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26 Cards in this Set

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Provides a lifetime retirement income, tax-deferred growth of assets.
Annuities
Provides a lifetime retirement income, tax-deferred growth of assets.
Annuities
Two types of annuities.
Fixed

Variable
The annuity that provides a fixed monthly payment for contract term. Minimum rate guaranteed, hedge against inflation, mortality guarantee
Fixed
Variable monthly payment, no minimum rate of return guaranted...mortality guarentee
Variable Annuity
Methods of purchasing annuities
Immediate

Deferred
During the pay in phase of an annutiy the premiums paid are valued as ________ _____.
Accumulation Units
The measure used during the payout phase.
Annuity units
The annuity payout option (settlement option) that grants the largest monthly payments for the life of the annuitant only.
Life annuity
The Payout option (settlement option) that pays for life or a set number of years is.
Life annuity with period certain.
the payout option that pays out for the life of the annuitant plus the life of the servivor.
Joint and survivor life annuity.
Tax-qualified Annuity plan for employees of public school systems.
403(b)
Tax-qualified annuity plan for employees of private, non-profit organiztions.
501(c)(3)
Has minimum benefit, but no maximum.
- Variable life
- Whole life
- Univeral life
Variable life
Has no guarenteed cash value:
Var. life
whole life
Univ. life
Variable life
_______ life and _______life guarantee cash value to one degree or another.
Whole life

Universal life
________ life insurance has a minimum benefit and _______ life insurance has a possible fixed minimum death benefit.
Whole life

Univeral life
______ life and ________ life premiums are paid in fixed amounts at fixed dates.
Variable

Whole
Who qualifies for a IRA?
Anyone with earned income.
A special IRA that allows contributions to continue after age 70 1/2 with no withdrawal necessary.
Roth IRA
Coverdell Education Savings Accounts and 529 Plans are what type of Plans
Educational savings plan
and
Qualified State Tuition Programs
Coverdell Education Savings Accounts and 529 Plans are what type of Plans
Educational savings plan
and
Qualified State Tuition Programs
Anyone with self-employeed income, sole proprietors or partners and their employees qualify for for this.
Keogh Plan (HR10)
In a Keogh plan, _______ amount of funds are _____ at distribution of funds.
entire

taxed
In a Keogh plan, the _______ amount of funds are _____ at distribution of funds.
entire

taxed
Anyone with self-employeed income, sole proprietors or partners and their employees qualify for for this.
Keogh Plan (HR10)