
An Immediate Annuity is a contract between an investor and an insurance company. The investor places a sum of money under the control of the insurance company for a specified period of time and in return the insurance company pays them an agreed upon sum each month. Immediate annuity rates are the amount of money the insurance company offers to pay the person. The immediate annuity rates are based on your gender and age, the term of the annuity and the type of annuity one purchases. The insurance company uses this information to calculate...