Also referred to as a multi-year guarantee annuity, it is a type of fixed annuity where the interest rate is guaranteed in advance for a set number of years.
Annual Cap Rate is the upper limit of index-linked interest that could be credited to an annuity each year. Annual Participation Rate determines what percentage of the increase in an index will be used to calculate index-linked interest credits each... Read more
The annual yield, including bonuses if applicable, up to the first penalty free full withdrawal window, assuming the current base interest rate remains unchanged for the duration of the term.
The annual yield, including bonuses if applicable, up to the first penalty free full withdrawal window, assuming the interest rate is reduced to the contractually guaranteed minimum at the first available opportunity, for the duration of the term.
A unit of measure for interest rates where one basis point is equal to 1/100th of 1%, or 0.01%.
A penalty imposed by the insurance company to withdrawals made in excess of specified penalty free amounts, or full contract surrenders, during the time in which the annuity is still subject to the surrender period.
The period of time for which the declared interest rate is guaranteed.
An annuity payment option that provides guaranteed income payments for as long as the sole named annuitant is living.
The interest rate offered by an insurance company on an inforce fixed annuity after the initial guarantee period is over.
Interest earnings that have accumulated inside an annuity contract and have not yet been withdrawn.
Description Here