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He is absolutely describing an immediate annuity, not a deferred annuity. He will only be getting his principal back for many years before he starts to earn any interest. You mention a "Period Certain" annuity, but he is talking about a life time annuity.

I stand corrected. You are indeed correct.

A tax deferred annuity does not provide checks sent to you each month but the interest builds up tax deferred.

They can do both, but that is neither here nor there. The fact that the OP is does indeed appear to be illustrating an immediate annuity makes that a moot point.
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