In a flexible premium deferred annuity, who determines the timing and amount of purchase payments?

In a flexible premium deferred annuity, the owner of the annuity holds the authority to determine both the timing and the amount of purchase payments. This type of annuity is designed to provide flexibility, allowing the owner to make contributions at their convenience rather than adhering to a strict schedule or fixed amount.

This flexibility benefits individuals who may want to adjust their contributions based on their financial circumstances or investment goals over time. The owner can choose to make larger or smaller payments whenever they wish, as long as the payments meet the minimum requirements set by the annuity contract. This aspect of control is a defining feature of flexible premium deferred annuities, differentiating them from fixed premium contracts where payment amounts and schedules are set in advance.