What Does Annuity Forms Mean?
Annuity form is a document that is either a contract for a certain type of annuity or a request for a revision or mode of transaction for an annuity. This is signed and mailed to a company for validation.
Insuranceopedia Explains Annuity Forms
An annuity form could either be an annuity contract. There are various types of annuity. The following are the common types: immediate annuity, deferred annuity, fixed annuity, and the variable annuity. Their basic difference is the mode of cash payout. For instance, if you have deferred annuity, your withdrawal starts on a fixed schedule, usually after retirement. With an immediate annuity, on the other hand, you get paid right away after buying the annuity.
An annuity form can also be a request for a change in the form. That change can either be a change of beneficiary. That can also be a withdrawal authorization if you want someone else to withdraw from an annuity for you.