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Annuity Agreement Contract

A retirement contract can simply relate to an annuity. C-Share Variable Annuities Variable Annuity Contracts with no pre-deferred or conditional sales costs, providing a legal agreement between the policyholder and the insurance company at any time. Guaranteed Minimum Death Allowance A type of death allowance plus the value of the contract (a) higher, b) the reduced premiums for previous withdrawals or (c) the value of the contract at a specified earlier date. A-Share Variable Annuities Annuity Contracts that provide for sales fees at the time of investment or payment of premiums. Share A contracts generally do not have a transfer fee. Net revenue or net variable data streams total annuities minus outflows, disbursements, intra-company exchanges and benefit payments. Variable Investment Options Investment options available to a variable pension policyholder. These options generally include equity funds, bonds and money funds. Variable Annuity Payment Floor A guaranteed minimum for each annuity payment. Annual Contract Fee An annual fee paid to the insurance company for the management of the contract.

In the case of contracts with high account values, fees are often omitted. Party-at-Interest A person or group directly interested in a contract, including the issuer, the contract owner and the annuitant. Charge The cost of terminating the contract before the expiry of the rebate tax to a holder. The delivery period is usually five to seven years. Premium Premium A bonus is an additional amount that, under certain conditions, is credited with the accumulation account of a pension policy. Owner of Annuity The person or entity that has the rights to the contract, including termination, surrender, modification of the beneficiary or other specific conditions. Bailout Commission When the interest rate on a fixed pension falls below an interest rate set by the pension contract, this function guarantees the free withdrawal of all funds from a pension account. Asset Allocation In a variable annuity, asset allocation between several classes, e.g.B.

stocks, bonds and cash to achieve an individual`s financial goals. The objective of asset allocation is to reduce investment risk. Protected Pensions A kind of retirement savings plan for workers in tax-free organizations or schools under section 403 (b) of the IRC. Protected tax pensions are financed by pre-tax contributions, which are paid through wage reduction agreements. Employers can also make direct contributions on behalf of workers. Utility Pension (gift) A charitable gift pension is a contract between a donor and a foundation under which the foundation guarantees the payment of a pension. Total sales or total premium flows The sum of new sales (all first-time buyers of a contract, including inter- and intra-company exchanges) and additional bonuses from existing holders.