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Actually, no. In some cases, the insurance company pays a bonus--to wit:

A 10% bonus on premium received in the first five contract years. To receive the bonus, you must hold this annuity in deferral for at least five contract years, then take annuity payments over a minimum of 10 years.

As I said, there are good and not-so-good annuities. Ol' intercst would rather you never buy a car again if you had ever bought a lemon.
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