Examlex
Name and describe the four stages of the VFD.
Deferred Annuity
An insurance product that provides future payments to the holder, starting at a pre-specified date, often used as a long-term retirement savings vehicle.
Ordinary Annuity
A series of equal payments made at regular intervals, with interest compounding at the end of each period.
Deferred Annuity
A financial product offered by insurance companies that postpones the disbursement of income, periodic payments, or a single large payment until chosen by the investor.
Ordinary Annuity
An investment product that pays out fixed payments to an individual at regular intervals for a specified period of time, typically used for retirement savings.
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