annuity beneficiary
91List of law topics (S-Z) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …
92variable life insurance — an insurance policy whose annuity payments or payment to the beneficiary are not fixed but depend on the income earned by the investment of the premiums. * * * …
93mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… …
94Life Expectancy Method — A method of calculating annuity payments, by dividing the balance or total value of a retirement account by the policy holder s anticipated length of life. This is the easiest method of early distribution to calculate. There are two types of life …
95Maturity Guarantee — The dollar amount of a contract (such as a life insurance policy or segregated fund contract) that is guaranteed after a certain amount of time has elapsed. Usually within a life insurance policy or segregated fund contract, the beneficiary is… …
96Modified Endowment Contract - MEC — If the cumulative premium payments exceed certain amounts specified under the Internal Revenue Code, the life insurance policy will become a Modified Endowment Contract (MEC). Taxation under a MEC is similar to taxation under an annuity. Under a… …
97Premature Distribution — Any distribution taken from an IRA, qualified plan or tax deferred annuity that is paid to a beneficiary that is under age 59.5. Premature distributions are subject to a 10% early withdrawal penalty by the IRS as a means of discouraging savers… …
98single-life pension — A pension or annuity that is paid for the lifetime of the beneficiary only, rather than for the lifetime of a surviving spouse. Compare joint life and last survivor annuities …
99legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …
100legacy — A disposition of personalty by will. A bequest. In a technical sense and strictly construed, legacy is a gift or bequest by will of personal property, whereas a devise is a testamentary disposition of real estate, but such distinction will not be …
