What is a Life Annuity Plan?
Definition (quoted from Investopedia)
Simpler Definition
1) It is an insurance plan
2) Mainly used for retirement
3) Involves you paying a monthly amount or 1-lump-sum to the insurance company to create a pool of money (Fund).
4) the Fund will be used for investments until you reach the age to draw money from your fund
5) You will...