What is the difference between a lump-sum payment and an annuity? What is the difference between an
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Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...
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A lump sum payment is a single payment while an annuity is a ser...View the full answer
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