Page 5, 3rd para of chpt 9 ( cashflows of simple products) of 2017 material mentions that immediate annuities cannot normally be discontinued. Why is this so?
Imagine you pay me £100,000 to buy an immediate annuity of, say, £5000pa. If you later turn around and say to me you want to stop the annuity (obviously you'd want paying to do so), then what does that say about your health??!
