A deferred annuity is a contract with an insurance company that promises to pay the owner a regular income, or a lump sum, at some future date. Deferred annuities differ fromimmediate annuities, which begin making payments right away. Key Takeaways A deferred annuity is an insurance contract t...
A deferred annuity contract allows you to accumulate tax-deferred earnings during the term of the contract and sometimes add assets to your contract over time. In contrast, an immediate annuity starts paying you income right after you buy. Your deferred annuity earnings can be either fixed or va...
Even a well-caffeinated person with an advanced degree in math would have a hard time deciphering a 53-page contract called “Your Flexible Premium Indexed and Declared Interest Deferred Annuity Policy.” FromNew York Times Word of the Day...
Aqualified longevity annuity contract(QLAC) is a type ofdeferred annuitythat is purchased using funds from aqualified retirement planor anindividual retirement account(IRA). A QLAC provides monthly payments until death and is exempt from therequired minimum distribution(RMD) rules from theInternal Reve...
Annuity Contract The agreement outlining the terms of anannuity. Among other things, the contract spells out thecontributions,employermatching contributions,benefitschedule, whether the annuity isfixedorvariable, and what theearly withdrawalpenaltiesare. Theannuitantand theinsurance companyagree on the annuit...
— deferred annuity : an annuity in which payment of benefits is delayed until a particular time (as at retirement) compare immediate annuity in this entry — group annuity : a pension plan paying annuity benefits at retirement for all eligible persons under a single master contract usually...
Define Annuity (disambiguation). Annuity (disambiguation) synonyms, Annuity (disambiguation) pronunciation, Annuity (disambiguation) translation, English dictionary definition of Annuity (disambiguation). n. pl. an·nu·i·ties 1. a. The annual payment o
retirement annuity contractmeans a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988; Disability retirementfor plan 1 members, means the period Stock Accountmeans the account maintained on behalf of the Participant by the Custodian for the purpo...
retirement annuity contractmeans a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988; Retirement fundmeans the "Washington law enforcement Retirement Accountmeans any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f...
if a person receives a portion of the profits from a business enterprise, the receipt of the profits is evidence of a partnership. If, however, a person receives a share of profits as repayment of a debt, wages, rent, or anAnnuity, such transactions are considered "protected relationships"...