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How is Annuity different from Life Insurance?

April 26, 2017Annuity different Life Insurance

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How is Annuity different from Life Insurance?

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Annuity works like a pension plan where you make an investment either in a single lump sum or through installments paid over a period of time. Annuities do not provide any life insurance cover but, instead, offer a guaranteed income either for life or a certain period.