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 your annuity units is fixed at the time that you buy the income annuity contract, or when you annuitize your deferred variable annuity. While the number of units does not change, the value of each unit fluctuates to reflect the performance of the underlying investments in the subaccount. That's why the income you receive from a variable annuity may differ from month to month.

Other Words for Unit

Unit Noun Synonyms: element, component, entity, part, item, constituent, piece, portion, segment, section, module
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Qualifying Annuity

Business / Finance / Qualifying Annuity: An annuity allowable as investment for a qualified plan or trust. MORE

Retirement Communities

Business / Real Estate / Retirement Communities: Many of them in temperate climates, are often structured as PUDs. They may provide shopping, recreational opportunities and health care facilities in addition to residential units. MORE

Reverse-Annuity Mortgage (RAM)

Business / Real Estate / Reverse-Annuity Mortgage (RAM): A loan under which the homeowner receives monthly payments based on his or her accumulated equity rather than a lump sum. The loan must be repaid at a prearranged date or upon the death of the owner o MORE

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