What Is Meant by a Deferred Annuity

question 40

Essay

What is meant by a deferred annuity?

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Definitions:

Standardization

The process of developing and implementing technical standards to ensure the compatibility, safety, and quality of products or services.

Insurance Policies

Contracts between an insurer and a policyholder that stipulate the terms under which the insurer agrees to compensate the policyholder for loss related to specific events or hazards.

States

Political entities within a country, having a defined territory, government, and certain sovereign rights.

Contract Law

The branch of legal study that deals with the formation, enforcement, and interpretation of agreements between parties.