Product that guarantees the initial interest rate for funds on deposit for the length of the maturity, whether it is for a period of 1, 3, 5, 10, or 15 years. At maturity, the policyholder has two choices:
withdraw the funds without having to pay a surrender charge (it is important to note that taxes must be paid on the interest earned and there is a 10% penalty on the earnings if the policyholder is less than age 59/2);
roll the funds over into another annuity for a limited number of years or a product of longer duration.
In contrast to certificates of deposit (CDs), interest earned through this annuity accumulates on a tax-deferred basis. This type of annuity provides liquidity, preserves principal, and stipulates a fixed rate of return.
Same as term Underwriting Gain Loss): profit ( deficit) that remains after paying claims and expenses. Insurers generate profits from underwriting and from investment income. Their chief ...
Historical mortality table that replaced the annuity table, 1949, used for the calculation of annuity rates with more-current mortality experience at that time. This table was subsequently ...
Form of stock ownership that permits the stockholder to select a beneficiary to receive the stock upon the death of the stockholder. The stockholder retains all rights of stock ownership ...
Amount expressed as a liability on the insurance company's balance sheet for benefits owed to policy owners. These reserves must be maintained according to strict actuarial formulas as they ...
Transaction by a tax-exempt organization with a person from inside the organization (disqualified person) that provides an economic benefit to that person that is in excess of the value of ...
Your motor home can be both your transportation and your home away from home. So like your auto and your home, you need to safeguard it with the proper insurance protection. Consider the ...
Owning a condominium puts you in a unique position. Unique because you have both common and individual insurance needs. Odds are, your condominium association has an insurance policy for ...
You need separate coverage for the variety of risks you face when storing, launching, hauling or running your seaworthy vessel. Boats, and other watercrafts can be large investments, and ...
Commercial insurance is designed to help protect many of the risks your business can face, including: damage or destruction to your business vehicles certain liability exposures resulting ...
Liability Coverage: In case you're sued as a result of an auto accident. Collision Coverage: Helps cover physical damage to your vehicle due to collision or upset. Comprehensive Coverage: ...
A CD, or Certificate of Deposit, is an investment usually made for a given period of time at a fixed rate of interest. CDs are offered by financial institutions such as banks, and are often ...
The short and simple answer is not quite. When you purchase or own a house, you need to have homeowners insurance for that property. A homeowners insurance covers potential losses and/or ...
An HMO provides comprehensive health services to its members for a prepaid fixed fee, equivalent to an insurance premium. A PPO differs from an HMO in that the PPO has no separate physical ...
Find a Real Estate Agent
Read why Real Estate Agent rates 5 Stars in over 20 Agents Reviews
Have a question or comment? We're here to help.