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12 Cards in this Set

  • Front
  • Back
Annulities:
immediate and differed
immediate: lump sum downpayment, within one year payments begin (as early as one month

deffered:
after one year, lump sum or installments (single/flexible)
Annuities:
-Fixed
-Variable
Fixed: one rate, insurer owns portfolio

Variable: puchase accumulation units, each unit a payment of sorts. (value determined when pay out begine). risky, no garunteed payoff, owner assumes risk
Annuities:
-Acummulation period
-Annuity period
Acummulation: pay in period
annuity: pay out period, "liquid"
Annuities:
-General Account
-Seperate account
General: insurance company owns

Seperate: owner owns
Annuities:
-single premium
-flexible premium
in a DEFERRED annuity
How many payments:
lump sum or many
modified garaunteed annuities
surrender: difference between contracted interest and current surrender:

good market: owner loses some (difference is positive)
bad market: company may pay bonus
Don't Forget!
Group annuitiy:
qualified or unqualified?
QUALIFIED which means tax free.
Seperate account
General account,

WHICH HAS TO BE REGISTERED WITH SEC?
Seperate: because general is conservative and not risky
Person selling securities has to be registered with what department?
NASD
IRA:
HR-10:
Simplified Employee Pension:
403(b):
IRA: individual anyone w/ income
HR-10: Self Employed
SEPP: an employer funded retirement plan for employees
403(b): tax-favored retirement plan (non profit)
tax-sheltered annuity:
are funds ever taxed?
YES!
not on premium but on PAY OUT or distribution
Roth IRA SPECS:
how many years before withdrawl:
when tax free:
what cap:
what percent penalty:
-5+
-payments taxed but free growth and distribution
-$4000
-6%