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Annuities - Coggle Diagram

- - - - lump-sum premium
    - - variable or specific payments
  - - - Lump-sum buys immediate income stream
    - - future date
  - - - Guaranteed lifetime income; ceases at death
    - - Lifetime income, balance to beneficiary.
    - - Lifetime income, balance as installments
    - - Lifetime income, period certain guaranteed.
    - - Two lives, one continuous income
    - - Guaranteed payments for a set term
  - - - Guaranteed returns, secure, fixed benefits
    - - Accumulation Units
        
        Payments buy units; value fluctuates with market.
      - Annuity Units
        
        Accumulation units convert to variable annuity units.
      - Defintion: Market-linked, fluctuating, non-guaranteed benefits.
    - - Market-linked returns, principal guaranteed, potential growth.
        
        Features:Index growth limited by rates, spread, cap.