1
Accumulation PhaseGLOSSARY
The period during which money in an annuity grows before income payments begin.
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Chapter 7
KEYWORDS | TỪ KHÓA
Prior to reading this chapter, please review the following keywords. An understanding of their basic definitions will improve your comprehension of the chapter content.
Annuities2
AnnuitantGLOSSARY
The person whose life expectancy is used to determine life-contingent annuity payments.
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3
Annuitization OptionGLOSSARY
A method selected for receiving annuity income payments.
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4
Annuitization PhaseGLOSSARY
The phase in which annuity value is converted into a stream of income payments.
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5
AnnuityGLOSSARY
A contract designed primarily to accumulate funds and/or provide periodic income, helping address the risk of outliving income.
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6
Deferred AnnuityGLOSSARY
An annuity designed to begin income payments at a future date after an accumulation period.
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7
Fixed AnnuityGLOSSARY
An annuity providing contractual guarantees backed by the insurer, with the insurer bearing the investment risk associated with the general account.
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8
Immediate AnnuityGLOSSARY
An annuity designed to begin income payments soon after purchase.
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9
Indexed AnnuityGLOSSARY
An annuity that credits interest based in part on changes in a market index, subject to contract formulas such as caps, floors, participation rates, and spreads.
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10
Joint and SurvivorGLOSSARY
An annuity payout option that continues income while either of two covered annuitants remains alive, according to contract terms.
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Life OnlyGLOSSARY
An annuity payout option that provides income for the annuitant’s lifetime without a minimum guaranteed payment period.
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Life with Period CertainGLOSSARY
An annuity payout option providing lifetime income with a guaranteed minimum payment period.
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13
Nonqualified AnnuityGLOSSARY
An annuity funded outside a qualified retirement plan, generally with after-tax money.
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14
Qualified AnnuityGLOSSARY
An annuity funded within a qualified retirement arrangement and subject to the tax rules of that arrangement.
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15
Tax-DeferredGLOSSARY
A tax treatment under which taxation of earnings is postponed until a later taxable event or distribution.
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Variable AnnuityGLOSSARY
An annuity using separate accounts in which values can fluctuate and the contract owner bears investment risk.
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🧠 QUICK MEMORY TIPS | MẸO HỌC NHANH
Study Smarter!1
Accumulation PhaseThe period during which money in an annuity grows before…
2
AnnuitantThe person whose life expectancy is used to determine life-contingent…
3
Annuitization OptionA method selected for receiving annuity income payments.
4
Annuitization PhaseThe phase in which annuity value is converted into a…
5
AnnuityA contract designed primarily to accumulate funds and/or provide periodic…
6
Deferred AnnuityAn annuity designed to begin income payments at a future…
7
Fixed AnnuityAn annuity providing contractual guarantees backed by the insurer, with…
8
Immediate AnnuityAn annuity designed to begin income payments soon after purchase.
9
Indexed AnnuityAn annuity that credits interest based in part on changes…
10
Joint and SurvivorAn annuity payout option that continues income while either of…
11
Life OnlyAn annuity payout option that provides income for the annuitant’s…
12
Life with Period CertainAn annuity payout option providing lifetime income with a guaranteed…
13
Nonqualified AnnuityAn annuity funded outside a qualified retirement plan, generally with…
14
Qualified AnnuityAn annuity funded within a qualified retirement arrangement and subject…
15
Tax-DeferredA tax treatment under which taxation of earnings is postponed…
16
Variable AnnuityAn annuity using separate accounts in which values can fluctuate…