Annuity Contract
The written agreement between an insurance company and a customer outlining each party's obligations in an annuity coverage agreement.
Annuity contract
An annuity contract is the legal agreement between the insurance company issuing an annuity and the consumer who purchases the annuity.
Annuity contract bought with a single payment and with a specified payout plan that starts right away. Payments may be for a specified period or for the life of the annuitant and are usually on a monthly basis. See also Annuitize.
Related topics: ...
Variable annuity contracts typically have a "free look" period of ten or more days, ...
Unit Linked Annuity Contracts A type of annuity where the contract owner assigns the funds in the annuity to a variety of different investment funds offered by an insurance company.
variable annuity A life insurance annuity contract that provides future payments to the holder... variable committed expense An unavoidable cost that must be paid in predetermined intervals, and does not have a constant value (i.e.
At the same time, life insurance annuity contracts that make use of a variable format can be somewhat risky. Just as the underlying securities may increase in value, there is also the chance that the market will undergo a downturn.
There are a lot of details that will depend entirely on the type of annuity contract signed. If you are planning to get a private annuity, then you will have to discuss the exact terms with your obligor.
Immediate payment annuity
An annuity contract paid by a single payment and with a specified payment plan the starts immediately after the contract is purchased.
Immediate settlement
Delivery and settlement of securities within five business days.
Accumulation Unit A share of ownership in a variable annuity contract. This is what an annuity holder buys when building up the annuity's value.
funds, exchange-traded funds (ETFs), and other equitized investments (such as unit investment trusts or UITs, insurance separate accounts and related variable products such as variable universal life insurance policies and variable annuity contracts, ...
A stream of unchanging payments for a specific period or for an individual's lifetime, depending on the terms of the annuity contract. Fixed annuities are sold by insurance companies to people who desire a fixed income.
Periodic purchase deferred contract
A fixed or variable annuity contract for which fixed-amount premiums are paid either monthly or quarterly, and that does not begin paying out until a time elected by the annuitant.
An annuity contract pays the beneficiary the accumulated assets as dictated by the terms of the contract.
Accumulation units: An accounting measurement used to measure an annuitant's ownership of the separate account during the deposit period of a variable annuity contract.
Acid test ratio: See Quick Ratio.
A variable annuity is a contract between you and an insurance company, under which the insurer agrees to make periodic payments to you, beginning either immediately or at some future date. You purchase a variable annuity contract by making either a ...
Held in a separate account that is unique from the insurer's general account assets. This is not a derivative because of the unique attributes of the traditional variable annuity contracts issued by the insurance company.
" For example, a 7% charge might apply in the first year after a purchase payment, 6% in the second year, 5% in the third year, and so on until the eighth year, when the surrender charge no longer applies. Some variable annuity contracts will allow ...
 See also: Annuity, Investment, Contract, Market, Stock
  
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