Flexible premium deferred annuity definition
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Oct 06, 2020 · If a flexible premium deferred annuity contract contains a reserved right to refuse premium contributions, there must be prominent disclosure on the cover page and specification page of the contract and certificate and in the application form. Section 3201(c).
Life Insurers: Individual Fixed and/or Variable Deferred ...
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 ...
What is a Flexible Premium Deferred Annuity (FPDA)? - Definition fr…
(1) Definition. A flexible payment deferred annuity is defined as a contract which provides for the payment of a guaranteed or variable annuity, or both, with the amount of the annuity determined not at date of issue but at the annuity commencement date and …
[DOC File]Group Fixed and/or Variable Deferred Annuity Contracts ...
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Deferred Annuity: Grows tax free like a 401K. 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.
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