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14 Cards in this Set
- Front
- Back
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life insurance company product designed to provide supplemental retirement income
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annuity
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investors pay premiums to the insurance company that are invested in the company's general account
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fixed annuity
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risk that unexpected changes in consumer prices will penalize an investors real return from holding an investment
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purchasing power risk
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a tax-deferred retirement vehicle that allows you to choose from a selection of investment, and them pays you a level of income in retirement that is determined by the performance of the investigators you choose
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variable annuity
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this account is separated from the general funds of the insurer because it is invested differently
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seperate account
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the investor contributes to both the general and seperate accounts, which provides for guaranteed payments as well as inflation protection
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combination annuity
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purchased with a lump sum, but payment of benefits delayed until a later date selected by the annuitant
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single premium deferred annuity
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allows investments over time. Payments of benefits on this type of annuity are always deferred until a later date selected by the annuitment
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periodic payment deferred annuity
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purchased with a lump sum and the payment pf benefits usually commences within 30 days
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immediate annuity
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when the annuitant begins taking income from the account
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annuitization
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conservative project of the performance of the seperate account over the estimated life of the contract
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assumed interest rate
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product that features a predetermined periodic payout amount until the death of the annuitment
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life-only annuity
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an annuitization-method option with which the annuitant selects a specific time period for which the annuity income payments will last
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life with period certain
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option guarantees payment over two lives
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joint life with last survivor
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