Annuity Contract

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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.
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[section]222.14 so that it does not apply to private annuities is to create a distinction that does not exist in the statute, and would be tantamount to rewording the statute by changing the references to "annuity contracts" to "commercial annuity contracts" as shown below:
Finally, the release states with regard to annuity contracts, including index annuity contracts, the following:
Swiss Re said it will acquire around 760,000 life insurance and pension policies and annuity contracts, representing around pounds 6.8bn in invested assets, through the takeover of Barclays Life Assurance.
* The new rules may make alternatives to private annuity contracts more attractive, including installment sales or installment notes that terminate at the obligee's death.
Property/Casualty Property/casualty insurance contracts are usually short-term--usually a year at most--whereas life and annuity contracts are long-term In addition, the potential outcomes with property/casualty insurance contracts can vary widely, while claims against life insurance and annuity contracts are more predictable.
Why People Use Annuity Contracts It is all about risk management.
The proposed regulations do not distinguish between secured and unsecured annuity contracts, or between contracts issued by insurance companies and those issued by other taxpayers.
Figures for fiscal 2005 core operating profits as well as new life insurance and annuity contracts with individual customers in the year are in billions of yen, with year-on-year percentage changes in parentheses.
Revenue Ruling 2004-75 provides that income received by nonresident alien individuals under life insurance or annuity contracts issued by a foreign branch of a U.S.
But Troutt said Berko didn't tell him that he was going to list Troutt's address as one in Florida to circumvent the Arkansas Insurance Department, which regulates annuity contracts. And Berko is not authorized to act as an insurance agent or broker in Arkansas, the lawsuit said.
An employer purchases annuity contracts for selected executives in order to supplement either a defined benefit or a defined contribution plan.
Alcoa Corporation has signed group annuity contracts to transfer approximately $555M in obligations, and related assets, of defined benefit pension plans in Canada.