For Annuities we have a term and definition in Tax.

Annuities (Tax)

A tax-deferred product that mixes features of an investment and an insurance policy. There are generally two types- fixed annuities (pay a fixed rate of interest) or variable (your return is not guaranteed but you have freedom to choose how your money is invested). Among the advantages: unlike a 401(k) or IRA, there’s no dollar limit on how much you can invest. Among the disadvantages: annuities typically carry relatively high fees and penalties.

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