Normal Annuity Form
Cost computation form that assumes retirement and commencement of annuity payments on the first day of the month nearest the birthday when a retiree reaches normal retirement age. Most employee pension plans provide for a normal retirement age of 65, with pension or annuity payments to begin at that time. But many also provide an optional annuity form for those who wish to either retire before or continue working past the normal retirement age. These employees receive reduced benefits, in the case of the early retirees, or, possibly, enhanced benefits for those who work longer.
Popular Insurance Terms
Reckless action without regard to life, limb, and/or property; for example, driving 100 miles per hour on a road or highway. ...
Law that established rules and regulations to govern private pension plans, including vesting requirements, funding mechanisms, and general plan design and descriptions. For example, three ...
Rejection by an insurance company of an application for a policy. ...
Life insurance policy clause. If at the end of the grace period the premium due has not been paid, a policy loan will automatically be made from the policy's cash value to pay the premium. ...
Combination property, liability, and business interruption policy. It is usually written to cover expenses of small and medium size businesses resulting from damage or destruction of ...
Fund that concentrates primarily on short-term government securities, certificates of deposit with maturities less than one year, and high-quality interest-bearing corporate debt. The fund ...
Coverage that pays a fixed dollar amount of interest at regular intervals. ...
Nominal interest rate minus the rate of inflation. ...
Pooling of assets of two or more pension funds under common portfolio management. ...
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