Retirement planning: Want regular pension after retirement? How to choose the right annuity plan - What is an annuity?

An annuity is an agreement between two parties wherein the insurer agrees to make a series of payments at regular intervals of time to the annuity purchaser. A lump sum or staggered investment is made by the buyer for the annuity plan chosen by them. An annuity is considered as a provision for retirement where one can ensure a steady stream of regular income over the retired life of the person.Text: Centre for Investment Education and Learning (CIEL) What is an annuity?