Flexible premium annuities are always deferred annuities, with the annuity purchase price paid in periodic payments over a period of time. During the accumulation phase, a flexible premium annuity generally has a payment schedule, which can be increased, decreased, or even stopped, subject to the terms of the contract. For example, some issuers may require a minimum initial premium, such as $500 to $1,000, but may then allow additional premiums of smaller amounts at the owner's discretion.
Flexible premium fixed annuities are usually well-suited for people who want to:
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