What type of annuity allows for flexible premium payments over time?

The type of annuity that allows for flexible premium payments over time is known as a periodic premium annuity. This option enables the policyholder to make contributions at various intervals rather than requiring a single lump-sum payment upfront. This flexibility can accommodate changes in a person's financial situation, allowing them to invest smaller amounts consistently or increase their contributions when possible.

This contrasts with other types of annuities, such as an immediate annuity, which requires a lump-sum investment that immediately begins to pay out benefits, or a single premium annuity, which also involves a one-time payment. While a variable annuity is associated with investment choices and can have varying payouts based on performance, it typically does not inherently provide the flexible payment options available with a periodic premium annuity. Therefore, the periodic premium annuity stands out for its ability to accommodate ongoing funding at the policyholder's discretion.