Annuitization period 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.
[DOCX File]L E T T E R H E A D
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The definition of Reference Period assumes a series of material, substantially similar payments and materiality is relative to the life-contingent payments. If the payments are not substantially similar, the actuary should apply prudent judgment and select the Valuation Rate Bucket with Macaulay duration that is a best fit to the Macaulay ...
[DOC File]THE TRUTH ABOUT EQUITY INDEX ANNUITIES
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The conversion of the sum to income payments is called “Annuitization” and different amounts are paid based on different payment schedules as well as the ages of the people receiving the money. FIA (Fixed Index Annuity) – These are contracts that credit growth derived indirectly from performance in one or more market indexes; most ...
[DOC File]FORM 5500 – AN UPDATE
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SPECIAL RULES FOR TAXATION FOR A PARTIAL ANNUITIZATION (Act Section 2123, Amending IRC §72) Effective date: amounts received in taxable years beginning after December 31, 2010. Taxpayers will be able to receive a portion of the nonqualified annuity contract in a stream of annuity payments, with the remainder accumulating on a tax free basis.
[DOCX File]VM-01: Definitions for Terms in Requirements
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A universally accepted definition of relevant information is not to be found in actuarial literature, but certainly relevant experience is a part of what constitutes relevant information. ... at the end of a specified waiting period, upon annuitization or upon withdrawal of premium over a period of time), will increase contractual benefits ...
[DOCX File]VM-01: Definitions for Terms in Requirements
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(e.g., at the end of a specified waiting period, upon annuitization or upon withdrawal of premium over a period of time), will increase contractual benefits should the contract value referenced by the guarantee (e.g., account value) fall below a given level or fail to achieve certain performance levels.
[DOCX File]VM-21: Requirements for Principle-Based Reserves for ...
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For these calculations, the Annuitization GAPV and Withdrawal GAPV shall follow the definition described in Section 6.C.3. The annuitization rate for all GMIB contracts shall be 100% immediately after the Account Value reaches zero.
[DOC File]annuity disclosure
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H. “Market Value Adjustment” or “MVA” feature is a positive or negative adjustment that may be applied to the account value and/or cash value of the annuity upon withdrawal, surrender, contract annuitization or death benefit payment based on either the movement of an external index or on the company’s current guaranteed interest rate ...
[DOCX File]Home - Social Circle City Schools
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is a financial product that accepts and grows funds and then, upon annuitization, pays out regular payments to the investor. Annuities are often used as retirement funds. Some annuities are funded with a lump-sum investment, while others are funded with an initial investment and additional regular deposits before retirement.
[DOC File]Form 2454g, Standards for Prior Approval Group Deferred ...
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2. Annuitization is available with no additional charges and charges added solely to annuitize a participant’s account are not allowed. 3. The provision specifies a default settlement option at maturity. The default option shall be a life annuity with a period certain as …
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