Annuity Contract

Annuity Contract

The agreement outlining the terms of an annuity. Among other things, the contract spells out the contributions, employer matching contributions, benefit schedule, whether the annuity is fixed or variable, and what the early withdrawal penalties are. The annuitant and the insurance company agree on the annuity contract when the annuitant buys the annuity. Generally speaking, the insurance company maintains a standard set of annuity contracts to meet the needs of different annuitants.
References in periodicals archive ?
"The annuity contract before the court is not a life insurance policy; ipso facto RIGL 27-4-11 does not entitle Mr.
Global Banking News-January 30, 2019-Lockheed Martin transfers about USD1.8bn of pension obligations by purchasing Prudential group annuity contract
Also, the company said that pursuant to the agreement its wholly-owned Iowa-domiciled life insurance subsidiary, Athene Annuity and Life Company (AAIA), agreed earlier to provide an annuity contract covering all obligations of Bristol-Myers' US Retirement Income Plan (the plan), for which the participants do not elect to receive a lump sum payment.
announced it has entered into an agreement with Metropolitan Life Insurance Company (Metropolitan Life) to purchase a group annuity contract and transfer approximately $6 billion of the companys U.S.
The attacks involved had the annuity contract numbers as well as the holders' Social Security numbers and dates of birth.
Allianz Life Insurance Company of North America has introduced the Retirement Foundation ADV Annuity contract. The product is the company's first fee-based indexed annuity contract.
Pursuant to IRC Section 403(b), the plan must provide retirement benefits through an annuity contract that meets the code's requirements.
Those who select the Voya Quest Plus Index Annuity will receive an added 6.0 percent premium bonus at the start of the annuity contract.
* A QLAC does not include a variable annuity contract or an indexed annuity contract.
A QLAC is a type of annuity contract purchased within a retirement plan such as a 401 (k), 403(b), or traditional IRA.
9673) allow a new type of annuity contract, the qualified longevity annuity contract (QL4C), to be used in certain retirement plans and IRAs, effective for annuity contracts purchased after July 1, 2014.
That section states that the Commission [SEC] shall treat as an exempt security under Section 3(a)(8) of the 1933 act "any insurance or endowment policy or annuity contract or optional annuity contract" that isn't a variable contract and that, if issued on or after June 16, 2013, is issued by an insurer that has adopted suitability rules at least as stringent at the NAIC Suitability in Annuity Transaction Model Reg #275 of 2010 and any successor thereto.