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[DOC File]Individual Immediate Annuities Product Outline (02/28/2013)
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The Original Interest Rate is the annual rate that together with the mortality table guaranteed in the contract equates the amount applied at annuitization with the present value of the annuity payment (i.e., without expense loads). Payments are commuted based on a rate guaranteed at annuitization.
what is an annuitization

Annuities – An Actuarial Briefing Document
How does the market operate to ensure a fair price to consumers and a fair profit to insurers? The insurer. Insurers are commercial companies that seek to make a profit from selling annuities in a competitive market. The insurer will price its annuities so that if policyholders live on average as long as the insurer anticipates, it will make a ...
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[DOCX File]MEMBER | SOA
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However, the impact of selection appears to vary somewhat based on issue age, refund feature, income amount, as well as the source of the life payout annuity (i.e. immediate annuity, annuitization, or life settlement option).
annuitize definition

[DOCX File]Section 6: Additional Standard Projection Requirements
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The annuitization rate for contracts that do not have a GMIB shall be 0% at all projection intervals. For GMIB contracts, the annuitization rate shall be synonymous with the benefit exercise rate. As such, the annuitization rate is 0% in projection intervals during which the GMIB is not exercisable.
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[DOC File]NAIFA – Palm Beaches
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The earnings in your subaccounts grow tax deferred; you won't be taxed on any earnings until you begin withdrawing funds or begin taking annuitization payments. 5. With the exception of a fixed account option where a guaranteed* minimum rate of interest applies, the issuer of a variable annuity generally doesn't guarantee any return on the ...
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[DOC File]CCR Template
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19. Illustrations must not depict values beyond the maximum annuitization age or date; 20. Annuitization benefits must be based on contract values that reflect surrender charges or any other adjustments, if applicable; and. 21. Illustrations must show both annuity income rates per $1,000.00 and the dollar amounts of the periodic income payable. 22.
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What does annuitization mean