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Terms in this set (11)
the time period during which an investor builds up their savings and the value of their investment portfolio
the money a company generates on a regular basis
refers to the period when an annuitant starts to receive payments from his or her investment in the annuity
the period when income is distributed to the annuitant
determines how much of the in-market gain in the index will be credited to the annuity
Life Payout Options
guaranteed income for the lifetime of the annuitants. Payments will stop upon death of the annuitant
Life With Period Certain Option
specified income payable for the life of the annuitant. If the annuitant dies during the certain period, payments will continue to the designated beneficiary until the certain time has ended.
Period Certain Payout Option
specified income payable for the length of the certain period regardless of the life of the annuitant.
Amount Certain Payout Option
Income payable in equal periodic payments of a chosen amount until the benefit and interest have been used up, regardless of the life of the annuitant
Joint Annuitant- 100% to Survivor
Payout of equal dollar amounts to the annuitant or joint annuitant for as long as at least one of the annuitants are living
Joint Annuitant- 50% to Survivor
Fixed payments while both annuitants are living. Half of the fixed payments will be paid out only one of the joint annuitants are living.
OTHER SETS BY THIS CREATOR
Intermediate Accounting 1 Exam