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Annuity Calculator

An annuity is an investment that provides a series of payments in exchange for an initial lump sum.

In the United States an annuity contract is created when an individual gives a life insurance company money which may grow on a tax-deferred basis and then can be distributed back to the owner in several ways. 
There are two phases for an annuity, one phase in which the customer deposits and accumulates money into an account, and another phase in which customers receive payments for some period of time. During this latter phase, the insurance company makes income payments that may be set for a stated period of time, such as five years, or continue until the death of the customer.