Flexible premium annuity definition
[DOC File]Eight-Hour Annuity Training Outline
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A deferred annuity provides for the accumulation of funds to be applied at some future period designated by the policyholder. Premium payments can be made in a lump sum amount (single premium deferred annuity), or periodically (flexible or fixed premium deferred annuity) as allowed by the policy contract.
[DOCX File]Statutory Accounting Principles Working Group
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a.A deferred annuity provides for the accumulation of funds to be applied at some future period designated by the policyholder. Premium payments can be made in a lump sum amount (single premium deferred annuity), or periodically (flexible or fixed premium …
[DOC File]I
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Single Premium Deferred – lump sum, single payment with deferred payouts. Flexible Premium Deferred – several payments with deferred payouts. Immediate Annuity: Payouts start soon after contract signed, payouts are taxed at income tax rates. Must be purchased with lump sum. Done on the Annuitization side. Annuity Investment Options:
[DOCX File]CHAPTER 1
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This rule recognizes that flexible payment deferred annuities differ from traditional fully guaranteed fixed-premium, fixed-benefit annuity contracts in that the full risk on the contract may be indeterminable and not attach to the insurer, and the total premium is not paid until it is applied to provide annuity payment. (1) Definition. A ...
What is a Flexible Premium Annuity? - Definition from Insuranceop…
A Flexible Premium Annuity is one that permits repeat deposits for up to a specified number of years, including unlimited. Flexible premium annuities offer a depositor a place to make repeat or even scheduled deposits without having to open a new contract or repeat the minimum deferral period.
[DOC File]Title 20--DEPARTMENT OF
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Distinguish between the characteristics of the two types B. Annuity type according to how and when premiums are paid 1. Define single premium annuities 2. Define flexible premium annuities 3. Distinguish between the characteristics of the two types C. …
[DOCX File]Statutory Accounting Principles Working Group
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An immediate annuity is a contract that pays an income amount periodically, e.g., monthly or annually, to the annuitant, often for life. There can be a certain payment period (i.e.10 years), so that the income will be paid for at least that long whether the annuitant lives or not. A deferred annuity is similar to a tax deferred savings account.
[DOC File]THE TRUTH ABOUT EQUITY INDEX ANNUITIES
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Flexible premium annuities - Different from single premium annuities, flexible premiums are usually situated in variable annuities. Although more money can be entered into the account, flexible premiums support additional money being invested into the contract. The annuitant can choose to pay as much of a premium as they want until the benefits begin.
[DOC File]Term
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A scheduled premium or flexible premium fixed annuity may provide that the insurer may, at its option, cancel the annuity prior to the annuitization date and pay the actual accumulation amount (i.e. no reduction for surrender charges or MVA) to the contractholder if no premium payments have been made for a period of three full years and either ...
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