Fixed benefits

Fixed benefits

Payments to a beneficiary that are paid in fixed preset amounts and are not variable.

Fixed Benefits

In annuities and insurance, benefits that guarantee the annuitant a fixed return for the life of the annuity. Like any annuity, the annuitant buys into a policy, either with a lump sum or premiums, over a period of time. When the annuitant reaches a certain age or retirement (whichever is greater), he/she begins to receive the fixed benefits. Generally speaking, the insurance company issuing an annuity with fixed benefits invests the premiums in low-risk investment vehicles, such as bonds. This results in a smaller likelihood that the insurance company will be unable to make the payments, but also exposes the annuitant to inflation risk. See also: Variable benefits.
References in periodicals archive ?
At a time when many seniors are struggling to make ends meet, living on fixed benefits and faced with rising costs for housing and other necessities, the Protection of Social Security Benefits Restoration Act is needed.
For many decades, insurers have sold health insurance policies, known as indemnity policies, that paid fixed benefits when insureds needed specified types of care, such as hospital care.
Cover for disability will provide fixed benefits, depending upon the severity of the injury, and irrespective of the horse's value or use.
In times of sickness and unemployment, fixed benefits were payable, and to the retired and widowed went a weekly pension.
of Canada, et al), the English Court of Appeals held that a reinsurance program that offered fixed benefits to an insurer that was exposed to variable liabilities nevertheless adhered to the insurance requirement of demonstrating an insurable interest.
Employers, squeezed by high health care premiums that take a bigger slice of a fixed benefits pie, are calling for more creative and cost-efficient group benefits packages.
With fixed benefits, everything is under the control of the payroll department, but with flex this department is no longer able to deal with all payroll queries.
This indicates that these companies can no longer afford to sustain their current defined benefit plans, where companies assume responsibility for paying out fixed benefits, unless some changes are effected.
Aetna Voluntary Fixed Benefits Plan members receive access to Aetna's negotiated rates with network providers.
the service market includes - the supply of fuel, item p1, for mt type contracts, - the fixed maintenance services, item p2, of all the technical installations for the mt and fp markets, - total fixed benefits, item p3, of all the technical installations for the mt and fp markets, - guarantee of results and respect of contractual temperatures, - the supply of water treatment or softening products as required.
The gap between wages or fixed benefits such as social security and housing costs has never been greater.