Budgeting and Financial Planning

What Is a Deferred Annuity?

Rodney Brooks
May 31, 2022

Annuities are an integral part of the retirement portfolios of investors who want a guaranteed stream of retirement income. A deferred annuity is a contract that provides the buyer with a steady stream of payments at a future date, compared to an immediate annuity that starts the payments right away.

"The way an annuity works is that you put your money into it, and there will be some form of a guarantee on the money,” says Robert Gilliland, managing director and senior wealth advisor at Concenture Wealth Management in Houston, Texas. “That could be a guarantee in the form of a stream of income or a death benefit.”

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