An annuity with a payout phase that commences (is “deferred”) at some specified future date. Deferred annuities can be purchased with either single (lump sum) or periodic premium payments. The contract holder determines the deferral period. Deferred annuity payments can be either fixed or variable. With a deferred annuity: 1) the money can go in as a single premium payment or a series of payments; 2) the money can be invested at a guaranteed rate or variable rate, and;
3) payments are deferred to some future date.
Good question.
First thing to consider is that--to my knowledge--there are only a few types of annuities offered by Swiss insurance companies.
Savings Bank Life Insurance Company of Massachusetts was founded in 1907 by Louis D. Brandeis, a prominent Boston attorney, with a concept of selling life insurance through savings banks in Massachusetts. Today, the company offers its products through savings banks as well as directly to consumers in 39 states including District of Columbia.
Savings Bank Life Insurance offers a variety of life insurance and annuity products and has the largest amount of life insurance in force in the state of Massachusetts. The products offered by Savings Bank Life Insurance are:
