Sentences with phrase «income payout phase»
While money is accumulating in an annuity (before the income payout phase), funds can grow and compound on a tax - deferred basis.
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Similar to a fixed interest annuity, during the payout phase, the income payment amount is set when payments begin and this will NOT change.
An annuity with only a distribution phase is an immediate annuity, single premium immediate annuity (SPIA), payout annuity, or income annuity.
The withdrawal phase can be structured as a lump sum payout or a monthly income stream.