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Sagot :
The series of payments Rory receives, from an insurance company is known as annuity.
What is Annuity ?
An annuity is a series of payments delivered at regular periods in the investing world. Regular savings account deposits, mortgage payments, insurance premiums, and pension payments are all examples of annuities. The periodicity of payment dates allows for the classification of annuities. The payments (deposits) may be paid every week, every month, every four months, every year, or at any other regular frequency. Mathematical operations referred to as "annuity functions" can be used to compute annuities.
An annuity-payments immediate's are made at the conclusion of each payment period, allowing interest to accumulate between the time the annuity is issued and the first payment. An instant payment is paid to the issuer since annuity-due payments are made at the beginning of payment periods.
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