Sentences with phrase «surrender value of an annuity»

According to these legal financial requirements, the insurance companies are legally bound to set up a reserve, which at all times must be equal to the withdrawal or surrender value of their total block of annuity policies or contracts, i.e. the annuity providing insurance companies must set aside funds equal to the surrender value of every annuity contract in force.

Not exact matches

However, most companies will give you the flexibility to withdraw a portion of your deferred annuity's account value, usually 10 % each year, without a company — imposed surrender charge.

A Book Value MYGA would offer the accumulated value of the annuity less surrender fees applicable at that time of surreValue MYGA would offer the accumulated value of the annuity less surrender fees applicable at that time of surrevalue of the annuity less surrender fees applicable at that time of surrender.

To enhance this tax benefit, some promoters used annuities that had artificially low cash surrender value for a period of time after the purchase date.

Someone came up with the idea of claiming that the value of an annuity is equal to its cash surrender value.

It says that in a conversion occurring soon after the purchase of an annuity, the value of the annuity is established by the premiums used to purchase the annuity rather than its cash surrender value.

Immediately after you buy an annuity, the cash surrender value is less than the amount paid for it, so this approach would result in a smaller amount of taxable income when you convert the IRA.

It is also necessary to purchase an annuity with 2 / 3rds of the surrender value.»

As an example, if you have a base account value of $ 100,000 and you want to withdraw $ 20,000 in year five of your annuity, you will be charged a surrender charge for the amount that is above the penalty - free withdrawal amount — in this case $ 10,000.

At the beginning of the index term that follows the end of the Marketing Value Adjustment (MVA) period, the annuity fund value is assured to reach the guaranteed minimum accumulation value, which is 105 %, 107 % and 110 % of original premium (net of withdrawals and applicable surrender charges) for the ISA 5, ISA 7 and ISA 10 respectiValue Adjustment (MVA) period, the annuity fund value is assured to reach the guaranteed minimum accumulation value, which is 105 %, 107 % and 110 % of original premium (net of withdrawals and applicable surrender charges) for the ISA 5, ISA 7 and ISA 10 respectivalue is assured to reach the guaranteed minimum accumulation value, which is 105 %, 107 % and 110 % of original premium (net of withdrawals and applicable surrender charges) for the ISA 5, ISA 7 and ISA 10 respectivalue, which is 105 %, 107 % and 110 % of original premium (net of withdrawals and applicable surrender charges) for the ISA 5, ISA 7 and ISA 10 respectively.

Also, the insurance regulator mandates that two - third of surrender value needs to be utilized to purchase annuity plan.

With an indexed annuity, you may be able to withdraw up to 10 % of the contract value each year with no surrender charges.

And 2 / 3rd of the surrender value received should be used to purchase annuity plan.

However, most companies will give you the flexibility to withdraw a portion of your deferred annuity's account value, usually 10 % each year, without a company — imposed surrender charge.

Apart from this, two thirds of the surrender value is to be compulsorily used to purchase an annuity plan.

With an indexed annuity, you may be able to withdraw up to 10 % of the contract value each year with no surrender charges.

However, most companies will give you the flexibility to withdraw a portion of your deferred annuity's account value, usually 10 % each year, without a company — imposed surrender charge.

Net cash value, more properly called the net cash surrender value, is a feature of a deferred annuity.

The cash surrender value is the sum of money an insurance company pays to a policyholder or an annuity contract owner in the event that his or her policy is voluntarily terminated before its maturity or an insured event occurs.

If you no longer want your whole life policy, you can surrender it to receive the current cash surrender value or convert it into an annuity, but keep in mind that cashing in a permanent policy after only a couple of years is an expensive way to get insurance coverage for a short time.

[x] Different ways that can be used by a contract owner by which he can apply for cash surrender value of an insurance or annuity contract due to any lapse.

Apart from this, two thirds of the surrender value is to be compulsorily used to purchase an annuity plan.

According to latest rules of IRDA, 2 / 3rd of the surrender value received should be used to purchase annuity plan.

For example, if your annuity has a seven - year surrender period, and you surrender it in the first year, you may pay 7 percent of the value of your investment to the company.

Now the Insurance regulator mandates that the two - third of this surrender value needs to be utilized to purchase annuity plan.

The surrender value can be either used to buy a deferred annuity plan form the company or 1 / 3rd of the value can be commuted and the rest has to be used to buy annuity.

The surrender value received should be used for annuity benefits under the same conditions as of vesting, except that the date of vesting shall not be extended.

Cash surrender value refers to the amount of money that an insurance company will compensate a life insurance or annuity policyholder in case of a voluntary termination of the policy before it matures or the death of the insured.

The value of an annuity or life insurance policy less any surrender charges is the cash surrender value.

Thus, the fair market value of the annuity is determined by market interest rates at the time of surrender and may result in either a higher or lower surrender value than what was projected, but never a surrender value that is less than the sum of your contributions.

If an annuity is surrendered voluntarily, prior to the end of the lock - in period, the bonus and any interest earned on the bonus will be deducted from the surrender value.

The cash surrender value is the sum of money an insurance companywill pay to the policyholder or annuity holder in the event his orher policy is voluntarily terminated.

The surrender value of an existing deferred annuity or permanent life insurance plan can be transferred into a Navy Mutual annuity without incurring an immediate taxable event.

And 2 / 3rd of the surrender value received should be used to purchase annuity plan.