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The Truth About Buying Annuities
book

The Truth About Buying Annuities

by Steve Weisman
August 2008
Beginner content levelBeginner
208 pages
3h 51m
English
Pearson
Content preview from The Truth About Buying Annuities

Chapter 1. The history of annuities

 

“I advise you to go on living solely to enrage those who are paying your annuities. It is the only pleasure I have left.”

 
 --Voltaire

Annuities have had a rich and colorful history. The early Romans, inventors of such innovations as the public bath, the iron padlock, and the calendar, also developed the first annuities. In fact, the term “annuities” may have come from the Latin term “annua,” which means “annual stipend.” In ancient Rome, people would make a single payment in return for annual lifetime payments. Even then, retirement planning was a concern. Roman jurist Domitius Ulpianus developed the first known mortality table used for annuity purposes. Although he had little in the way of data, his actuary ...

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Publisher Resources

ISBN: 9780131359512Purchase book