Deferred fixed annuity features
[DOC File]Transmittal aAnd Standards for Life and Annuity ...
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Terms such as "tax advantaged" or "tax deferred" may be used where "tax-free" is not accurate without further explanation. Yes N/A. 28. Charts, graphs, or illustrations of current accumulation growth for a deferred fixed annuity are in proximity to a similar illustration of the guaranteed interest rate.
[DOC File]CLASS ACTION ANNUITY LITIGATION n1
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D. OTHER FEATURES. As indicated above, all deferred fixed annuities are required to provide a guarantee of a return of principal and are also required to guarantee a minimum rate of interest consistent with state laws -- so called "non-forfeiture statutes". n12 All immediate fixed annuities have guarantees relating to the amount and number of ...
[DOC File]CHAPTER 1
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Fixed annuities guarantee a certain payment amount, while variable annuities do not, but have the potential for greater returns. A hybrid annuity (also called a combination annuity) combines the features of a fixed annuity and a variable annuity. A deferred annuity is an annuity that delays income payments until the holder chooses to receive them.
[DOC File]annuity disclosure
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G. An annuity illustration shall include a narrative summary that includes the following unless provided in the body of the disclosure statement; (1) A brief description of any contract features, riders, or options shown in the basic illustration, guaranteed or non-guaranteed, and the impact they may have on the benefits and values of the contract;
[DOC File]AXA Equitable and the Model Plan - SharpSchool
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Variable deferred annuities are long-term retirement contracts designed to accumulate funds and then to provide a lump sum amount or lifetime payments. Because an annuity contract would be used to fund an employer-sponsored retirement arrangement, participants should do so for the annuity’s features and benefits other than tax deferral.
[DOCX File]VM-21: Requirements for Principle-Based Reserves for ...
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For variable deferred annuity contracts that either contain no guaranteed benefits or only GMDBs, including “earnings enhanced death benefits,” (i.e., no VAGLBs), the reserve may be determined by using the method outlined below rather than by using the approach described in Section 3.C and Section 3.D (i.e., based on projections), provided ...
Group Fixed and/or Variable Deferred Annuity Contracts ...
However, in light of the revisions to Insurance Law §4223(c)(1) made in Chapter 170 of the Laws of 2008, the law now is explicit that 1) the death benefit proceeds of a fixed deferred annuity contract, or 2) the portion of the death benefit proceeds related to the fixed account portion of an annuity contract that combines both fixed and ...
[DOCX File]content.naic.org
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Fixed income payment streams attributable to guaranteed living benefits associated with deferred annuity contracts, once the contract funds are exhausted; Certificates, emanating from non- variable group annuity contracts specified in Model #820, Section 5.C.2, purchased for the purpose of providing certificate holders fixed income payment ...
Life Insurers: Individual Fixed and/or Variable Deferred ...
D.3)Explanation of Unique Features and Market7. D.4)Guaranteed Living Benefits7. D.5)Availability of Cash Surrender Benefit and Death Benefit8. ... premium fixed and variable deferred annuity or a reserved right to restrict premium payments in a flexible premium fixed deferred annuity, the SERFF Filing Description must include the insurer’s ...
[DOC File]Commonwealth Tax-Deferred Savings Plan - Massachusetts
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Commonwealth Tax-Deferred Savings Plan. About the Plan. This is a summary of the key provisions of the “Commonwealth of Massachusetts Tax-Deferred Savings Plan”. The Plan supplements benefits of the state’s retirement plans. Therefore it is an important component of your personal savings for retirement.
[DOC File]White Paper Outline - DTCC
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Product Profile for Annuity (PPfA) Product Profile for an Annuity (PPfA) provides. a standardized definition of the attributes, features and business rules of an annuity product, including fixed and variable, deferred and immediate annuities, for product analysis, new business submission (IGO) and related business acquisition processes. Real-time
[DOCX File]VM-21: Requirements for Principle-Based Reserves for ...
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For a group of variable deferred annuity contracts that contain either no guaranteed benefits or only GMDBs (i.e., no VAGLBs), the stochastic reserve may be determined using the alternative methodology described in Section 7 rather than using the approach described in Section 3.D.
[DOC File]Annuity Myths: Things Everybody Knows About Annuities
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Tax deferral is, thus, a benefit to the annuity purchaser. But that benefit comes at a cost. Many annuity critics believe that this cost is a contractual one, that it is imposed by the insurance company that issued the annuity. This is simply untrue. No deferred annuity contract (variable or fixed) contains a charge for tax deferral.
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