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Glossary
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Savings and Investing Phase |
| Time period during a deferred variable annuity contract when money is invested and/or left to grow on a tax deferred basis. Also known as the Accumulation Phase. |
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Separate Account |
| The account established by an insurance company to hold the money you contribute to the investment choices in your variable annuity. It is separate from the company's general account. Money in the separate account is not available to the company's general creditors. |
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Separate Account Charge |
| An annual fee in a variable annuity that pays for insurance related charges, such as mortality and expense risks. The mortality portion generally pays for: the guarantee to pay you a lifetime income, even if you live longer than originally estimated; and the guarantee to pay your beneficiary a death benefit, even if it is larger than your account balance. The expense portion pays for the guarantee that your contract expenses won't increase, even if costs are greater than estimated. This charge also pays for distribution costs. |
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SIMPLE Plans |
| A retirement plan designed for small businesses. It can be set up either as an IRA or as a cash-or-deferred arrangement (401(k)). In general, they are funded by the employees' contributions on a pre-tax basis, and employers are required to make matching contributions. Contributions and earnings grow tax deferred. |
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Small-Cap U.S. Stocks |
| This asset class represents common stocks of the smallest companies in the United States, with market capitalizations of under about $1 billion. In general, small-sized stocks are considered to be riskier than stocks of large companies, but also tend to have greater return potential over time. |
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Spousal Continuation Option |
| A feature that enables the annuity owner's surviving spouse to continue the annuity contract, if the owner dies before annuitizing the contract. Generally, the contract may be continued at the highest of the account balance or the death benefit amount. |
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Standard & Poor's® Index (S&P 500® Index) |
| Most widely used benchmark for U.S. stock mutual funds and U.S. stocks variable portfolios. The S&P 500 Index is an unmanaged index of stocks of 500 of the largest publicly-traded companies in the U.S., with the bigger ones given more weight than the smaller ones. |
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Surrender Charge |
| See Withdrawal Charge |
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Systematic Withdrawal Program |
| A program that allows for periodic payments from an annuity, for example on a monthly, quarterly, semiannual or annual basis. In a variable deferred annuity, you can generally make systematic withdrawals from your contract while keeping the rest of your money invested in the funding options. |
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Annuity Quotes :
Annuity Quotes are available for
Alabama
, Alaska
, Arizona
, Arkansas
, California
, Colorado
, Connecticut
, Delaware
, District of Columbia
, Florida
, Georgia
, Hawaii
, Idaho
, Illinois
, Indiana
, Iowa
, Kansas
, Kentucky
, Louisiana
, Maine
, Maryland
, Massachusetts
, Michigan
, Minnesota
, Mississippi
, Missouri
, Montana
, Nebraska
, Nevada
, New Hampshire
, New Jersey
, New Mexico
, New York
, North Carolina
, North Dakota
, Ohio
, Oklahoma
, Oregon
, Pennsylvania
, Puerto Rico
, Rhode Island
, South Carolina
, South Dakota
, Tennessee
, Texas
, Utah
, Vermont
, Virginia
, Washington
, West Virginia
, Wisconsin
, Wyoming
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