Assumed interest rate

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Assumed interest rate

Rate of interest used by an insurance company to calculate the payout on an annuity contract.

Assumed Interest Rate

In annuities, a component of how monthly payments to the annuitant are determined. It is the minimum interest rate that the annuity may accrue while the annuitant makes payments on it; the annuity may perform better than the assumed interest rate depending on how it is invested, but the assumed interest rate serves as a bottom for how much the annuitant will receive when he/she begins to draw payments.
References in classic literature ?
After a vociferous consultation, which was, at times, deafened by bursts of savage joy, they again separated, filling the air with the name of a foe, whose body, Heywood could collect from their expressions, they hoped to find concealed in some crevice of the island.
This done, he thought of nothing but how best to deliver Rosalie, and he resolved to take advantage of a visit which the Prince of the Air paid every year to his mother and brothers in order to strike the blow.
It is true I felt that I was passing through the region of the air, and even that I touched that of fire; but that we passed farther I cannot believe; for the region of fire being between the heaven of the moon and the last region of the air, we could not have reached that heaven where the seven goats Sancho speaks of are without being burned; and as we were not burned, either Sancho is lying or Sancho is dreaming.
The fire from the distant part of the field had driven a single pigeon below the flock to which it belonged, and, frightened with the constant reports of the muskets, it was approaching the spot where the disputants stood, darting first from One side and then to the other, cutting the air with the swiftness of lightning, and making a noise with its wings not unlike the rushing of a bullet.
The Tin Woodman had chopped a big pile of wood, and now he made a fire of it, and Oz held the bottom of the balloon over the fire so that the hot air that arose from it would be caught in the silken bag.
Never did I witness such a malign lust for blood as these demons of the outer air evinced in their mad battle with the therns.
Ferguson have used two balloons, his chances of success would have been increased; for, should one burst in the air, he could, by throwing out ballast, keep himself up with the other.
It there were no current of air in the place we should have been stifled or poisoned when we first came in.
He sat upon the padded locker, wrapped about very carefully, for the air, though calm, was exhilaratingly cold and clear.
There was the sudden whirl of propellers, the rushing of air against her body, and, from far beneath the shouting and the challenge from the guard.
People had just begun to eat again, when a gust of cold air came through the open windows, lifting tablecloths and skirts, a light flashed, and was instantly followed by a clap of thunder right over the hotel.
The top of the buggy caught the air like a parachute or an umbrella filled with wind, and held them back so that they floated downward with a gentle motion that was not so very disagreeable to bear.