Monthly Archives June 2017

A Brief History of Annuities

With June designated as “Annuity Awareness Month” one can argue that many Americans are aware of the word “annuity” but may not understand how annuities actually work. The annuity concept has been traced back to the Roman Empire. In return for their service, soldiers and their beneficiaries would receive annual payments for life known as “annuas,” the basis for the word annuity. In the 17th century, these contracts were structured in the form of a “tontine” by feudal lords. Investors would contribute to a large pool of cash and receive annual payments for life. Upon death the payments ended and
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Categories: Annuities.