The Federal Deposit Insurance Corporation (FDIC) is a federal government corporation that provides deposit insurance guaranteeing the safety of a depositor’s accounts in member banks up to certain dollar limits.
An index annuity interest crediting method that is calculated by comparing the underlying index value on the first day of the contract year to the daily average (usually 252 trading days) of that same index at the end of the... Read more
A specified percentage used in certain calculation methods with fixed indexed annuities to determine the amount of index-linked interest that is credited to the annuity. The margin or spread percentage is deducted from the total calculated change in the index... Read more
An upper limit, used with some indexed annuity crediting methodologies, on the index-linked interest rate that is applied to the annuity. The cap is the maximum rate of interest the annuity can earn during the index term.
The participation rate determines what percentage of the increase in an index will be used to calculate index-linked interest credits to a fixed indexed annuity.
An annuity payment option that provides guaranteed income payments for as long as the annuitant is living.
A person whose life, jointly with the primary annuitant, the annuity policy is based upon and also receives the benefits of the contract.
A type of annuity that is designed to provide a guaranteed income stream, most typically for an individual or joint lifetime, with payments beginning in less than one year. They can also be structured to provide guaranteed income for a... Read more
Also referred to as a fixed indexed annuity, it is a type of fixed annuity that uses a stock market index as the basis for determining what the interest credits will be.
The guaranteed annual yield, including bonuses if applicable, for the initial guarantee period term, up to the first penalty free full withdrawal window.