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Where did annuities come from?

In reality, the origins of annuities can be traced all the way back to the Roman Empire. Annuities themselves are not new. There has been archeological evidence suggesting that the Ancient Egyptians had an annuity for one of their princes. However, annuities, as we know them, can be traced back to Ancient Rome.

Who invented annuities?

The Roman speculator and jurist Gnaeus Domitius Annius Ulpianus is cited as one of the earliest dealers of these annuities, and he is also credited with creating the first actuarial life table. Roman soldiers were paid annuities as a form of compensation for military service.

What are annuities used for?

Annuities are mainly used for retirement income purposes. They can help individuals address the risk of outliving their savings. Annuities are financial products that offer a guaranteed income stream and are usually bought by retirees.

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