Answered

An annuity would normally be purchased by an individual who wants to:

A. Provide income for retirement.
B. Provide a death benefit to the surviving family.
C. Earn a higher rate of interest.
D. Create an estate.



Answer :

GinnyAnswer

Final answer:

An annuity is a contract that provides regular payments either for a specified period or until the individual's death, commonly chosen by those seeking retirement income.


Explanation:

An annuity is a contract with an insurance company or financial institution that provides annual payments for a specified number of years or until your death. It is commonly purchased by individuals who want to provide income for retirement. Annuities offer a fixed stream of money payments over time, making them a stable investment option for retirement planning.


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