What is the Annuity Date?
The annuity date is a term that refers to the specific date on which an annuity contract becomes effective. An annuity is a financial product that provides a series of regular payments to an individual over a set period, typically during retirement. Understanding the annuity date is crucial for both the annuity holder and the insurance company, as it determines the start of the payment schedule and the terms of the contract. In this article, we will delve into the significance of the annuity date and how it impacts the annuity holder’s financial future.
In the next section, we will explore the factors that contribute to determining the annuity date and how it is established in an annuity contract.
