Sentences with phrase «owner of the annuity»

A corporation may be named as owner of an annuity contract provided the following conditions are met: 1.

A corporation may be named as owner of an annuity contract provided the following conditions are met: 1.

My trust is considered owner of my annuity contract.

My trust is considered owner of my annuity contract.

Where as owners of an annuity die broke because all the principal is lost, the owner of a Reverse Mortgage need only pay back the borrowings and accrued interest.

But as the stock market tanked from 2007 through early 2009, owners of these annuities were able to limit their stock market - related losses.

However, a trust or corporation may be named the owner of an annuity contract, subject to certain restrictions.

In some cases, by annuitizing the contract, the owner of an annuity can even receive a life - long stream of income, far more than his or her original investment.

These are just some of the consequences of naming as annuitant someone other than the owner of the annuity.

At the end of the term, the annuitant (owner of the annuity) can purchase a new policy or withdraw their funds in their entirety without penalty.

However, a trust or corporation may be named the owner of an annuity contract, subject to certain restrictions.

The annuity contract pays a death benefit to the beneficiaries designated by the owner of the annuity when the annuitant dies.

The first type is a guaranteed minimum death benefit (GMDB), which can be received only if the owner of the annuity contract, or the covered annuitant, dies.

They are the issuer (usually an insurance company); the owner of the annuity; the annuitant; and the beneficiary.