Types of annuity

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Types of annuity by Mind Map: Types of annuity

1. Fixed immediate annuity

1.1. The annuity is purchased with a lamp sum

1.2. The guaranteed rate

1.3. Liquidation period follow accumulation period

1.4. Immediate annuities

2. Fixed deferred annuity

2.1. Single premium deffered

2.2. Flexible premium annuity

2.3. Longevity annuity

3. Joint life insurance

3.1. Annuity payout option

3.2. Partial cash withdrawal rider

4. Variable annuity

4.1. Basic characteristics of variable annuity

4.2. Guaranteed death benefits

4.3. Fees and expenses

5. Equity- index annuity

5.1. Participation rate

5.2. Maximum CPP rate

5.3. Indexing method

5.4. Guaranteed minimum value

5.5. Limitation of equity index annuities

6. Longevity annuity

6.1. Single premium deferred annuity

6.2. Low cost annuity

6.3. Some insurer offer optional features