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When an annuitant initially begins receiving payments from her non-qualified annuity she can expect those payments to be?
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What is a fixed income annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
What are some annuity settlement options available?
With this option, the insurer pays annuity income benefits for a specified period of time (e.g., 10 or 20 years). The stated period over which the insurer will make the benefit payments is called the period certain. Even if the annuitant dies during this period, it will not affect the income benefit payments. When the period certain ends, so do the payments.
Can you begin receiving annuity payments without leaving the company?
Yes, but you have to be at least 59 1/2 to take it without penalty.
What is the name of a financial product offered by insurance companies to which a person makes contributions and from which the person immediately or later begins receiving payments?
An annuity.
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What is a life annuity with period certain?
A life annuity with period certain is a type of annuity that provides regular payments for life, with a minimum guaranteed period during which payments will continue, even if the annuitant dies. If the annuitant dies before the end of the guaranteed period, the payments will continue to a beneficiary until the end of that period.
In a joint annuity can payments be made to an annuitant if the spouse is younger than fifty nine and one half?
In a joint annuity, the annuitant's spouse typically needs to meet the minimum age requirement, which is often set at 59 and a half to receive payments. If the spouse is younger, the annuity may not allow for payments to be made to the annuitant. It's important to review the specific terms and conditions of the annuity contract to determine eligibility for payments.
What is life annuity with period certain?
A life annuity with period certain is a type of annuity that provides regular payments for the rest of the annuitant's life, with a guaranteed minimum payment period specified in the contract. If the annuitant dies before the guaranteed period ends, payments will continue to a beneficiary until the end of that period.
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a policy in which the payments to the annuitant begins 5 years after the policy has commenced is called
What is a period certain annuity and a life annuity?
A period certain annuity guarantees payments for a specific period, such as 10 or 20 years, regardless of the annuitant's lifespan. A life annuity provides payments for the lifetime of the annuitant, ensuring income for as long as they live but ceasing upon their death.
What type of life income option annuity guarantees periodic payments that terminate upon the annuitant's death?
The LIFE payout options available from an annuity or life insurance policy are of two types: (A) Life Only and (B) Life with Refund (A) Life Only - the contract guarantees an income (at least annually) for the life of the "annuitant" (the person whose age and sex determines the amount payable). At the annuitant's death, the contract ceases, without value. (B) Life with Refund - Like Life Only, this option will pay an income for the life of the annuitant. If the annuitant dies before the expiry of a specified period, such as 10 years (this is known as a "life and 10 Year Certain" payout) or before the annuitant has received a specified total amount (this is called "life and Cash Refund"), the remaining "refund" amount will be paid to the beneficiary. In the case of "Period Certain" options, the beneficiary will receive the remaining payments (e.g.: if annuitant died having elected a Life and 10 Year Certain and died after five years, the beneficiary will receive payments for the next five years. In a Cash Refund payout, the beneficiary will receive the lump sum difference between the specified lump sum and the cumulative value of income payments paid to the annuitant. It should be noted that NO annuity payout arrangement can EVER guarantee ANY amount to the beneficiary, as all such arrangements will terminate without value if the annuitant lives past the "refund feature" guarantee. LIFE payout are not the only way that annuities can provide income. A non-life payout, called "Period Certain", guarantees payment of income for a specified period of time (e.g.: 20 years), whether the annuitant is living or not. If the annuitant outlives the Period Certain, no further payments are made.
What is a fixed annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
What happens after 15 years with a 15-yeAr certain and life annuity?
After 15 years with a 15-year certain and life annuity, the annuity payments will continue for the rest of the annuitant's life even if they live beyond the initial 15-year period. If the annuitant passes away before the end of the 15 years, the payments will continue to a designated beneficiary for the remainder of the 15 years.
What is a fixed income annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
When drawing unemployment benefits will holidays cause a delay in receiving payments?
No unemployment payments will be made on State and banking holidays.
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At what age must a person begin receiving their Roth 401 (K) payments?
70 ½
