The meaning of ANNUITY is a sum of money payable yearly or at other regular intervals. How to use annuity in a sentence. Did you know?
Define deferred annuity. deferred annuity synonyms, deferred annuity pronunciation, deferred annuity translation, English dictionary definition of deferred annuity. n an annuity that commences not less than one year after the final purchase premium. Comp
An annuity in which the annuitant does not begin to receive payments until some future date. A deferred annuity has two phases: a savings phase and an income phase. During the savings phase, the annuitant places money into the annuity, which invests it on behalf of the annuitant. In the ...
deferred annuity noun an annuity that starts at the end of a specified period or after the annuitant reaches a certain age. Discover More Example Sentences A deferred annuity’s primary advantage is tax deferral, which an IRA already offers....
— 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...
A defined contribution plan does not guarantee retirement income for the entire life received from the employer in the form of an annuity. In contrast, the same is ensured in these plans. Advantages The advantages are as below: Tax-deferred is the first and foremost benefit of participating in...
Such amount may be received in a single lump sum or applied to any of the Annuity Options (see Choosing anIncome Plan). Short-term and long-term disability benefits are provided to College employees through the DisabilityIncome Planof North Carolina (DIPNC), part of the State’s Pension and...
Delayed annuity is a type of annuity contract in which the payments to the annuitant are deferred for a certain period. It provides an opportunity for the annuitant to accumulate funds over time and enjoy a steady stream of income in the future. ...
Deferred annuities often include adeath benefitcomponent. If the owner dies while the annuity is still in its accumulation (savings) phase, theirheirsmay receive some or all of the account's value. If the annuity has entered the payout (income) phase, however, the insurer may simply keep th...
A deferred annuity has an accumulation phase followed by a disbursement (annuitization) phase, while an immediate annuity converts a lump sum into cash flows from day one. Annuities come in three main varieties—fixed, variable, and indexed—each with its own level of risk and payout potential...