According to the regulation,, different type of annuity products will be offered to the customers according to their age. For the customers aged 56 and over, immediate annuities in TL offering a stream of lifetime income will be avaliable. On the contrary for the customers under the age of 56, companies can offer much more flexible products such as immediate or deferred annuities with a maximum deferrement period of 5 years. These products can be in TL or foreign currency,,indexed, paying annuity for a certain period of time or lifetime. Both products can provide lump sum payments or lifetime annuity for survivors upon the death of the insured.