An immediate annuity typically involves a single premium and provides a fixed stream of income, making it suitable for individuals seeking stable payments, especially in retirement.
An Immediate Annuity will have a single premium as it involves making a one-time payment to the insurance company, and in return, the individual receives regular payments over a specified period.
Immediate annuities are designed to provide a fixed stream of income, making them a common choice for retirees or those looking for a stable source of funds.
Inflation can impact the value of annuity payments, especially for those relying on fixed income, as the purchasing power of the payments may decrease over time.
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