Annuities are financial instruments that pay out a set amount on a regular basis and are usually sold to an individual. Most annuities cannot be transferred from one person to another and expire on the holder’s death. You can shop around for annuities and chose an annuity with a benefit payment at death. Other features of annuities are whether they pay out at a fixed rate, or variable rate linked to base interest rates and some offer flexibility so you can chose to change periodic payments made to you if your circumstances change.

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