Early Roman Annuities

• Ancient Roman contracts called annua guaranteed an income stream to people with an upfront payment. Income could be for a fixed period or a lifetime.
  
  

Middle Ages

• Tontines were popular in France at this period. For this investment to the government, persons would be promised an income for lifetime.
  
  

18th Century

• Several European nations such as England and Holland sold annuities as an option instead of government bonds. These were publicly offered and sold for a fixed price regardless of a person's age or gender.
  
  

Early U.S. Annuities

• Survivorship annuities have been offered since the mid-1700s by several charitable organizations including Corporation for the Relief of Poor and Distressed Presbyterian Ministers.
  
  

Insurance Companies

• The Pennsylvania Company for Insurance was founded 1812 and offered annuities. It became a precursor for what we now know as stock insurance companies.
  
  

Modern Annuties

• Since insurance companies have offered annuities, there have been more variations offered to meet the needs of different individuals.