Definition of "Bonus rate"

Hulen Buckner real estate agent
Hulen Buckner, Real Estate Agent Fathom Realty

Extra percent of interest credited to an annuity during the first year that it is in force. This extra amount is above the interest rate to be credited beginning with the second year and the remaining years that the annuity is in force. The extra rate is paid in the first year as an effort to attract new annuitants.

 

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