Definition of "Flexible Premium Annuity"

A type of deferred annuity allowing flexible premium payments after the initial premium has been paid. An annuity that accepts periodic contributions, which can usually be made at any time (as opposed to single premium). A deferred annuity contract that allows the owner to make continual payments. The amounts and times of these payments are often left completely up to the owner. Interest is paid from the date they are received and the amount available to annuitize is dependent on when and how much is received. Can be purchased with a series of regular payments over a period of time. The investor is usually allowed to change the amount or frequency of payments, subject to minimum annual amounts.

A deferred annuity contract that allows the owner to make continual payments. The amounts and times of these payments are often left completely up to the owner. Interest is paid from the date they are received and the amount available to annuitize is dependent on when and how much is received.

Annuities purchased through a series of premium payments. The owner of the annuity is not required to make any specific amount or number of payments.