Originally, annuities had one purpose: to convert a lump sum of capital into a stream of income, for life or for a certain time period. They were designed for people who were retiring or otherwise needed a fixed, guaranteed monthly income.
Originally, annuities had one purpose: to convert a lump sum of capital into a stream of income, for life or for a certain time period. They were designed for people who were retiring or otherwise needed a fixed, guaranteed monthly income.
