arihant magazine Ok, so what is an annuity you ask! Well, to put it simply, an annuity is basically a contract between yourself and the insurance company. arihant You agree to pay the insurance company a lump sum of money and the insurance company invests that money and agrees to pay you interest on that sum over a number of years. To put it simply, an annuity is a loan. Of course, this is just a simple explanation and the details and terms will vary according to the type of annuity you do take out. books for bank exams When choosing a type of annuity, you are also deciding on a certain level of risk which you are prepared to take. A fixed annuity is one of the safest to sign up for, but it isn’t as rewarding as some of the other annuities. One of the more riskier ones available is the ‘variable’ annuity. arihant sample papers You can earn some excellent interest with these, but there is also the possible danger of losing all the money you’ve invested if the money is not invested wisely. Again, your financial advisor will help to explain the best options to you and advise you where you should look to invest you’re money arihant gk.
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