BNET Business Dictionary
Business Definition for: Annuity Contract
- a contract under which a person is paid a fixed sum regularly for life
Additional Resources
- Partial exchange of annuity contract is nontaxable.
- In Conway 111 TC No. 20 (1998), the Tax Court held that a partial exchange of an existing annuity contract for a new annuity contract is a nontaxable exchange under Sec. 1035. This decision rejects the IRS's long-standing position that partial exchanges of an annuity contract...
- Research articles 1999-06-01
- IRS OKs switch of qualified annuity. (Section 1035 exchange of one annuity contract for another)
- The Internal Revenue Service allows a Section 1035 exchange of one annuity contract for another when the original annuity is part of a qualified retirement plan. The exchange is allowable if it satisfies the applicable minimum distribution regulations, foThe Internal Revenue Service allows a Section 1035 exchange of one annuity...
- Research articles 1992-11-02
- Top 25 variable annuity contract sales.(Illustration)
- TOP 25 VARIABLE ANNUITY CONTRACT SALES 2002 YEAR-END vs. 4th QUARTER 2003 YEAR-TO-DATE Rank by New Sales 12/31 12/31 2002 2003 YTD YTD Issuer 1...
- Research articles 2004-03-08
- News Briefs;Nashua Corp. plans buy $74.6 million annuity contract.(contains numerous brief articles)(Statistical Data Included)
- NASHUA, N.H. -- The Nashua Corp. pension plans, a $128 million composite pension trust and a $64 million employee savings plan, have entered into an agreement to purchase, for $74.6 million, a non-participating group annuity contract from Principal Life Insurance. The purchase will settle Nashua's pension...
- Research articles 2000-01-10
- VALIC reports top Morningstar rankings for eight variable annuity funds
- HOUSTON--BUSINESS WIRE--Nov. 29, 1995--The Variable Annuity Life Insurance Company VALIC, a leading commercial provider of variable annuity contracts, reports that seven of the equity fund options and one income fund within its Portfolio Director variable annuity contract ranked near the top of their respective categories, according to Morningstar's Variable Annuity/Life...
- Research articles 1995-11-29
- Should You Exchange Your Variable Annuity?
- If you have a life insurance or annuity contract, you may have been approached to exchange it for a new model, one with better or the latest features. You need to know that even though tax law makes the exchange income tax free and the new contract may sound better...
- White papers 2001-02-15
- Prudential Adds Two Investment Options to Its Discovery Select Variable Annuity Contract
- NEWARK, NJ--BUSINESS WIRE--June 17, 1999-- Discovery Select Variable Annuity Now Offers Prudential's Popular and Successful 20/20 Focus Fund and Prudential's Diversified Conservative Growth Fund Investors Can Now Choose From 26 Separate Investment Options Prudential Investments, a unit of the Prudential Insurance Company of America recently...
- Research articles 1999-06-17
- Jackson National Introduces New Investor-Centric Features To Its Top-Ranked Perspective II Variable Annuity Contract
- LANSING, Mich. -- Lifeguard 4SM and Lifeguard 5SM Give Investors More Control Over Income Distribution, Plus Five New Passively Managed Sub-Accounts Added With a focus on giving investors greater freedom of choice and control, Jackson National Life Insurance CompanyR (JNLR) (NYSE:PUK) announced today that it has added new features...
- Research articles 2004-10-04
- Reverse Mortgage Brokers Are No Angels
- A few days ago, I put up a spoofy post called "Five Jobs for Lousy Times and No Talent Necessary." One of my top picks was reverse mortgage broker. My reasoning:Â As the population ages and taps out any retirement savings left after the financial crisis, reverse mortgages, which are available...
- Blog posts 2009-10-29
- Private annuities: proposed regulations would negate income tax benefits
- Regulations [Sec. 1.72-6e and 1.1001-1j], proposed Oct. 18, 2006, addressed the income tax treatment of property exchanged for an annuity contract. BACKGROUND Gross income includes any amount received as an annuity under an annuity contract [IRC Sec. 72a]. However, Sec. 72b provides that gross income excludes that part...
- Research articles 2006-12-01
- Annuities: A new fee hurdle.
- Variable annuity companies may hit a speed bump on the shortcut to higher fees. To switch to in-house investment management from unaffiliated advisers -- usually resulting in higher fees -- they will have to get annuity contract owners to sig ...
- Research articles 2000-06-12
- SEC allows use of 'profiles' with VA prospectuses. (Securities and Exchange Commission; variable annuities)
- The Securities and Exchange Commission SEC is allowing variable annuity VA companies to issue brief profiles with VA prospectuses. The profiles contain 11 items, including information regarding the terms of the annuity contract, investment options, exThe Securities and Exchange Commission SEC is allowing variable annuity VA companies to issue brief...
- Research articles 1996-06-10
- Variable Annuities: What You Should Know
- This is a general description of variable annuities – what they are, how they work, and the charges you will pay. Before buying any variable annuity, however, you should find out about the particular annuity you are considering. Request a prospectus from the insurance company or from your financial professional,...
- White papers 2002-06-19
- Adverse Selection in Insurance Markets: Policyholder Evidence From the Annuity Market
- This paper investigates the importance of adverse selection in insurance markets. It finds systematic relationships between ex-post mortality and annuity policy characteristics, such as whether the annuity will make payments to the estate in the event of an untimely death and whether the payments from the annuity rise over time....
- White papers 2002-08-01
- Annuity Payments - Variable Annuity Payments
- Insurance companies often offer annuity payments in variables. The insurance company will agree with the buyer, agreeing to pay the variable contract holder episodic installments. The buyer must make a payment now to receive the benefits, or else agree to pay annuity payments over an extended time. Overall, three types...
- White papers
- Aetna Life Insurance and Annuity assumes Confederation Life Insurance and Annuity businesses
- HARTFORD, Conn. and ATLANTA--BUSINESS WIRE--Oct. 2, 1995--Aetna Life Insurance and Annuity Co. ALIAC and Georgia Insurance Commissioner John W. Oxendine, in his official capacity as Rehabilitator of Confederation Life Insurance and Annuity Co. CLIAC, today announced the closing of the Assumption Reinsurance Agreement under which ALIAC assumes the individual life,...
- Research articles 1995-10-02
- The Top 25 Variable Annuity Contracts Ranked By Overall Investment Performance.
- The Top 25 Variable Annuity Contracts Ranked By Overall Investment Performance 5-Year Annualized Return Ranking For The Period Ending June 30, 1999 Contract...
- Research articles 1999-10-11
- New wrinkles in Pru annuity.
- * Prudential Select Brokerage, a division of Prudential Insurance Co. of America in Newark, N.J., is offering the Discovery Select Variable annuity with two fixed options and 24 variable subaccounts. Other features include auto-rebalancing, which brings variable investment selection in line...
- Research articles 2000-03-06
- Ending Annuity Scams
- In August, the IRS issued temporary proposed regulations to shut down schemes that were marketed to the public in which annuity values were reduced at the time of a conversion to a Roth IRA in order to avoid taxes. There were two common versions of this scheme. In the...
- Research articles 2006-01-01
- Guardian Introduces New Income Strategies for Retirees; Variable Annuity Offers Enhanced Payment Options
- Business Editors NEW YORK--BUSINESS WIRE--July 22, 2002 The Guardian Insurance & Annuity Company, Inc. GIAC today launched The Guardian Investor Income AccessSMGIIA, a new variable annuity. This investment offers a relatively short surrender charge period as well as declining contract charges that may benefit long-term investors. In...
- Research articles 2002-07-22
