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Glossary > I > "Immediate Payment Annuity" Definition

Immediate Payment Annuity

An annuity contract that is purchased with one payment and has a specified payment plan which starts immediately.

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Immediate Payment Annuity - An annuity contract that is purchased with one payment and has a specified payment plan which starts immediately.

Immediate Payment Annuity : an annuity contract that is purchased with one payment and has a specified payment plan which starts immediately.