Income annuity is a term used to refer to immediate annuities. Income annuities come in many different forms (for example, payments from income annuities can be either fixed or variable), but the defining characteristics of income annuities include are that they are purchased with a single lump sum premium payment and the payouts commence shortly (within months) after the annuity has been purchased.
Principal Financial Group was founded in 1879 and is headquartered in Des Moines, Iowa. Principal Financial provides individuals, business, and institutional clients a range of financial products and services that includes