Pension Plan Funding: Group Immediate Participation Guaranteed (IPG) Contract Annuity
Modification of the group deposit administration annuity under which an employer participates in the investment (which may prove to be adverse as well as favorable), mortality, and expense experience of the plan on an immediate basis. Under the IPG, contributions are paid into a fund to which interest is credited. At retirement, an immediate annuity is purchased for the employee. The size of the benefit will depend on the benefit formula used and the investment, mortality, and expense experience of the plan.
Popular Insurance Terms
Procedure in which a home office interviewer (who may or may not have underwriting experience) interviews applicants on the telephone. The questions asked the applicant are automated and ...
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Annuity contract. If the annuitant dies before receiving income at least equal to the premiums paid, a beneficiary receives the difference in installments. If the annuitant lives after the ...
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