single premium deferred annuity

An annuity for which a party pays a lump-sum premium in exchange for receiving a specified sum at a future date.

• The income earned on the investment is tax-free until it is withdrawn. — Abbr. SPDA.

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词条贡献者

法律翻译Jane，毕业于欧洲顶尖的高级翻译学院，专注翻译各类与私募及对冲基金设立有关的法律文件。