FOLIO Ontology

Annuity

IRI:
https://folio.openlegalstandard.org/RGEvRqPhTjbwhcFWfzJd89
Preferred Label Regular Payment Plan
Alternative Labels
Investment Annuity Periodic Payment Plan Regular Disbursement Plan

Definition

An annuity is a financial product or arrangement that provides a series of payments made at equal intervals over a specified period. Annuities are commonly used for retirement income, insurance, and investment purposes, and can be structured as fixed, variable, immediate, or deferred, depending on the timing and variability of payments.

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