What is an Ordinary Life Annuity?
An ordinary life annuity is an annuity that guarantees income for the lifetime of the policy holder. It may be paid up in one lump sum or over a number of years. Typically with an ordinary life annuity, the policy ends upon the death of the policy holder.
Who Can Benefit from Ordinary Life Annuities?
Ordinary life annuities are typically the cheapest annuity product available. It is a great product for those whom are saving for retirement and need a guaranteed source of income for necessary costs of living.
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