annuity

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annuity:

see insuranceinsurance
or assurance,
device for indemnifying or guaranteeing an individual against loss. Reimbursement is made from a fund to which many individuals exposed to the same risk have contributed certain specified amounts, called premiums.
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References in periodicals archive ?
Smith purchases a fixed immediate annuity for $100,000 or annuitizes a fixed deferred annuity having an annuity value of that same amount, and if he elects a Life & 10 Year Certain payout arrangement, and if the annual annuity payout factor for that option, for his age and sex, is 5.
For those owners who never intend to annuitize, but instead are using annuities to minimize current taxable income with plans to eventually pass this wealth to the next generation, a tax trap awaits.
Starting in April 2015, plan members no longer will be required to annuitize and will have more flexibility in withdrawing funds from their pensions.
10% Percentage of people who annuitize after leaving their job after age 65.
As an example, he explains, a 60-year-old who annuitizes $100,000 in retirement savings, assuming a 3% interest rate, will receive $6,000 per year for the rest of his life, regardless of his lifespan, from the annuity.
First, the three considerations respondents report as being most important for their decision about whether or not to annuitize include: a desire to "make sure I have enough income later in life" a desire for "flexibility in the timing of my spending" and being "worried about [the] company not being able to pay me in the future.
In this short space, I'll try to convey how Otar determines who will need annuities and, if they do, how much money they should annuitize.
I will then discuss why I believe most pensioners need an annuity and when pensioners should annuitize.
G should annuitize her deceased husband's existing tax-deferred variable annuity.
The minimum "bullet-proof" asset transfer is the amount a financially sound insurance company would charge to annuitize the spinoff benefits, because an annuity purchase would be necessary if the plan were to terminate.
TIAA-CREF supports the use of a fixed annuity because it allows individuals to take advantage of interest rates rising and falling across a number of economic cycles, which can provide a higher, more predictable income stream at retirement than if they were to transfer accumulations into a fixed annuity at retirement and annuitize during a low-interest rate environment.