Period-certain annuity

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Period-certain annuity

An annuity that provides guaranteed payments to an annuitant for a specified period of time.

Period-Certain Annuity

An annuity in which the annuitant selects a certain number of years during which he/she will receive payments. For example, an annuitant may elect to receive annuity payment each month for 20 years. This allows the annuitant higher payments each month, but it is nevertheless less common than life annuities, which provide payments for the remainder of the annuitant's life. Using period-certain annuities as retirement packages may appeal to persons who do not expect to live the full term of the annuity and/or persons who have another source of income (such as another annuity) in retirement.
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Period certain only: This allows the client to target how long they need an income stream.
The healthy spouse purchases a five-year period certain only SPIA ($200,000 deposit) and receives about $3,200 per month (this type of annuity pays for 60 months, then stops).
For example, to generate the $500 Al and Ann need from a joint and survivor life immediate annuity with a 10-year period certain may require a premium of approximately $92,000.
And many among the current crop of products offer options--life contingent versus period certain payouts, single premium versus multi-premiums, a return of death benefit or living commuted value--that provide clients with a degree of flexibility not available in earlier iterations.
The letter also outlines "supervision violations" in "FA training" and "sales practices," and stated that "during the relevant period certain sales of Lehman PPNs were unsuitable.
As an aside, funding an additional $3,000 into the income annuity would provide a joint lifetime income with a 20-year period certain while providing the same $10,000 annual income.
5 percent AIR, they can get a joint and survivor life (75 percent continuation) IVA with a 10-year period certain that pays $514.
Pre-July 1986 investment in the contract (adjusted for period certain guarantee) $7,000 One year's guaranteed annuity payments (12 x $100) $1,200 Life expectancy from Table I, male age 65 15 yrs.
Payments made under an annuity contract may be for the life of the employee (or lives of the employee and his or her beneficiary), or a period certain not longer than the life expectancy of the employee (or joint and last survivor life expectancy of the employee and his or her beneficiary).
It lengthened the period certain people must wait to obtain driving privileges.
Last week the Government announced the tax on unleaded petrol would be cut by 2p a litre from Budget Day until June, a period certain to cover the election campaign.
Another SCRA provision would extend the period certain testamentary and grantor trusts may own S stock from 60 days to two years.