What Does Immediate Annuity Mean? 
That is a great question ! There are two types of annuities - deferred and immediate . Deferred annuities take the initial deposit , and promise an interest rate for a certain number of years , and after the passage of a determined number of years , starts to pay out monthly . An immediate annuity takes your deposit , and very quickly starts to pay it back to you in monthly payments . Both types are designed to provide income for a determined amount of time . I hope that helps , if you would like more information , please contact me , okay ? Thanks for asking ! 