Annuitize

Business / Finance / Annuitize: To commence a series of payments from the capital that has accumulated in an annuity. The payments may be a fixed amount, for a fixed period of time, or for a lifetime.

Annuity Unit

Business / Taxes / Annuity Unit: Annuity units are the shares you own in variable annuity subaccounts, also called annuity funds or separate account funds, during the period you're receiving income from the annuity. The number of you MORE

Annuitization

Business / Taxes / Annuitization: Annuitization means that you convert part or all of the money in a qualified retirement plan or nonqualified annuity contract into a stream of regular income payments, either for your lifetime or the MORE

Variable Annuity

Business / Taxes / Variable Annuity: A variable annuity is an insurance company product designed to allow you to accumulate retirement savings. When you purchase a variable annuity, either with a lump sum or over time, you allocate the p MORE

Accumulation Period

Business / Taxes / Accumulation Period: The accumulation period refers to the time during which your retirement savings accumulate in a deferred annuity. Because annuities are federal income tax deferred, all earnings are reinvested to incr MORE

Split-Funded Annuity

Business / Taxes / Split-Funded Annuity: A split-funded annuity lets you begin receiving income from a portion of your principal immediately, while the rest of the money goes into a deferred annuity. The advantage of split-funding is that yo MORE

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