Qrdinary Annuity: An ordinary annuity or immediate annuity is an annuity the first payment of which is made at the end of the first payment interval.

Annuity Due : An annuity due is an annuity the first payment of which is made at the beginning of the fist payment interval.

Annuity Certain: An annuity certain is an annuity whose payments extend over a fixed period of time.

Contingent Annuity : A contingent annuity is one whose payments continue for a period of time which depends on events whose dates of occurrence cannot be acutely foretold. For example, the premiums on a life insurance policy constitute such an annuity.

Deferred Annuity : A deferred annuity is one the first payment of which is postponed until the expiration of a period of time equivalent to a certain number of payment intervals.

Perpetuity: A perpetuity is an annuity whose payments continue forever.


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