Term Certain Annuity

(redirected from Certain Annuity)

Term Certain Annuity

An annuity that makes payments (either monthly or in a lump sum) to the annuitant only for a certain period of time. A term certain annuity guarantees these payments for the term but ceases payments if the annuitant is still alive when the policy expires. While these may be a useful part of a larger retirement plan, term certain annuities could leave the annuitant with no income at all if they form the entirety of one's retirement. See also: Life Annuity.
Mentioned in ?
References in periodicals archive ?
The proposal sought to reclassify certain annuity products as securities.
The settlement agreement includes defined suitability standards and procedures for Minnesota consumers, as well as a claims review process for past sales of certain annuity products to senior consumers.
The premium paying grace period for MassMutual life insurance, long term care insurance, disability income insurance and certain annuity contracts has been extended by 31 days in response to damage caused by the wildfires, yielding a total grace period of 62 days.
NYSE: AFG) (NASDAQ: AFG) has been involved in litigation with the IRS regarding the calculation of tax reserves for certain annuity reserves pursuant to Actuarial Guideline 33.
In every case, the laddered life annuity strategy matched the income of a life and 20-year certain annuity (which offered no liquidity) utilizing 100 percent of the deposit, and on average more than tripled the original deposit at the end of the period.
The improvement resulted from lower commercial mortgage loan losses and stronger operating income, driven primarily by growth in invested assets and improved investment spreads on certain annuity products.
1275(a)(1)(B)(i) (relating to certain annuity contracts that depend on the life expectancy of one or more individuals) only if it (1) provides for periodic distributions at least annually for the life (or joint lives) of an individual (or a reasonable number of individuals) and (2) contains no terms or provisions that can significantly reduce the probability that total distributions will increase commensurably with longevity.
Although slowing in the third quarter, the Company has experienced higher policy surrenders for certain annuity products in 2000.
In the settlement, GALIC has agreed to reimburse surrender charges incurred by certain annuity holders, to enhance the rate of return on certain policies through a lump-sum credit and to allow certain annuity holders to transfer their annuity value to other products issued by GALIC or other of its subsidiaries.
Concerns about benefit distribution annuities arose in late 1990, when certain annuity providers (e.
The settlement has two primary components including a defined suitability process for Minnesota consumers and a claims process for past sales of certain annuity products in which a senior consumer was either misinformed or received a product not suitable for his or her needs.
When asked their opinion on certain annuity product features, however, boomers surveyed appear to like the "concept" of annuities.