annuity
101Qualified Annuity — An financial product that accepts and grows funds, and is funded with pre tax dollars. Qualified is a descriptor given by the Internal Revenue Service (IRS) to indicate that the qualified annuity may be eligible for tax deduction. When a… …
102Split-Funded Annuity — A type of annuity that uses a portion of the principal to fund immediate monthly payments and then saves the remaining portion to fund a deferred annuity. The two funding methods let the annuity holder receive… …
103joint annuity — ➔ annuity * * * joint annuity UK US noun [C] ► FINANCE a type of annuity (= a fixed amount of money paid to someone every year) in which money is paid to two people, usually a husband or wife, while both are still alive, and to one person after… …
104fixed annuity — UK US noun [C] (also fixed rate annuity) INSURANCE ► an annuity (= contract someone agrees with an insurance company to be paid an amount of money regularly) for which the payment amount remains the same for the period of the annuity: »At the… …
105contingent annuity — see annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. contingent annuity …
106lifetime annuity — Under the Finance Act 2004, an annuity is a lifetime annuity if it is a level, increasing or relevant linked annuity, paid by an insurance company that the member had an opportunity to choose. The lifetime annuity must be payable until the member …
107Deferred Payment Annuity — An annuity where the payments received will start some time in the future, as opposed to starting when the annuity is initiated. An annuity is a financial contract that allows the buyer to make a lump sum payment, or a series of payments, in… …
108Joint And Survivor Annuity — An insurance product that continues regular payments as long as one of the annuitants is alive. A joint and survivor annuity must have two or more annuitants, and is often purchased by married couples who want to guarantee that a surviving spouse …
109Private Annuity — An agreement between two parties in which one party (annuitant) transfers an asset to another party (obligor) in return for unsecured payments for the remainder of the annuitant s life. For the agreement to be classified as a private annuity,… …
110Whole Life Annuity Due — A financial product sold by insurance companies that requires annuity payments at the beginning of each monthly, quarterly or annual period, as opposed to at the end of the period. A whole life annuity due is a type of annuity that will provide… …
