Fixed index annuity
Accumulation Units
Traditional IRA
Nondeductible IRA
Exclusion Ratio
Multi-year guaranteed annuity (MYGA)
Surrender Charge
Qualified longevity annuity contract (QLAC)
Individual Retirement Account (IRA)
Annuity Units
traditional IRA that taxpayers with incomes that exceed the phase-out-limits can contribute to, but they cannot deduct their contributions.
allows workers with taxable compensation to make annual contributions to a retirement plan up to certain limits and receive favorable income-tax treatment of such contributions.
must be calculated to determine the nontaxable and taxable portions of the annuity payments. It is determined by dividing the investment in the contract by the expected return.
measurement of the value of the amounts invested in variable annuity during the accumulation phase of the contract.
a deferred income annuity contract in which a lump sum premium is paid today to provide lifetime income at some future date, typically to years in the future.
basic variable that determines in large part the value of variable annuity benefits that are paid.
which helps to pay agents and brokers who sell variable annuities and is usually a percentage of the account value and declines over time, if the annuity is surrendered during the early years of the contract.
is a deferred annuity that allows you to invest a lump sum for a specific time period at a fixed rate of interest, typically 3 to 10 years.
a deferred annuity that allows the annuity owner to participate int eh growth of the stock market and also provides downside protection against the loss of principal and prior interest earnings.
allows workers to take a tax deduction for part or all of their IRA contributions.
