An individual who receives payments from an annuity, a financial product that provides income streams at specified intervals, typically as a retirement tool.
Fixed-income refers to a type of investment or income stream where payments are received on a regular schedule and are typically not adjusted for inflation. Common examples include most bonds, certain annuities, and some pension funds.
Interest income refers to the earnings obtained from various types of investments where the payment reflects the time value of money or from transactions where payments are made for the use or forbearance of money.
