Annuity Income definition

Annuity Income means the initial income payable under the Policy and is described in section 3.1;
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Annuity Income means as of any payment date the total of the fixed and variable payments payable as of that date. (For an explanation of annuity income, see question 4.)
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Annuity Income as of any valuation date means the total fixed and variable payments that would be payable as of that date. (For an explanation of annuity income, see Question 4.)
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Examples of Annuity Income in a sentence

  • Also, you can find more specific information on the tax treatment of payments from qualified employer plans in IRS Publication 575, Pension and Annuity Income, and IRS Publication 590, Individual Retirement Arrangements.

  • For more information, see IRS Publication 575, Pension and Annuity Income.

  • Annuity Income Options and Illustrated Monthly Income ValuesThis annuity is designed to pay an income that is guaranteed to last as long as the Annuitant lives.

  • Annuity Income Options and Illustrated Monthly Income Values This annuity is designed to pay an income that is guaranteed to last as long as the Annuitant lives.

  • Any Living Annuity Income paid will be subject to tax in accordance with the current provisions of the Income Tax Act.

  • Also, you can find more specific information on the tax treatment of payments from qualified retirement plans in IRS Publication 575, Pension and Annuity Income, IRS Publication 590, Individual Retirement Arrangements, IRS Notice 2007-7 and IRS Form 4972, Tax on Lump Sum Distributions.

  • After the Annuity Commencement Date – During the Annuity (Income) PhaseAfter the Annuity Commencement Date, you will receive payments under the annuity payment option you select, but generally you may not take any other withdrawals or surrender your Contract.

  • If the Lifetime Income received from the Sygnia Lifetime Income Portfolio exceeds the selected Living Annuity Income, the excess will be invested into the Market Investments selected by the policy owner.

  • The Investor will be entitled to an annual Living Annuity Income from the policy.

  • The Investor may elect the frequency and amount of Living Annuity Income on an annual basis; subject only to the applicable legislative limits which currently state that the annual Living Annuity Income must be between 2.5% and 17.5% of the Direct Investment market value.


More Definitions of Annuity Income

Annuity Income. BENEFITS If the Owner has not chosen an income plan, [Life Annuity with 10 Years Certain] will automatically apply. The Maximum Income Date is the first day of the first calendar month following the Annuitant's [95th] birthday. We reserve the right to require that the Income Date be at least [2 years] after the Certificate Date. The minimum amount that can be applied under any Variable or Fixed Income Annuity is [$5,000]. The minimum income payment is [$100]. We currently allow assumed investment rates of [3%] and [6%]. If the Owner does not specify one of these rates when the Owner chooses an income plan, the assumed investment rate will be [3%]. Values for other ages, and for other payment periods, joint life combinations, or assumed investment rates that we offer (Tables below assume 3%) are available on request. Monthly income payments are shown for each $1,000 applied. INCOME TABLE FOR A FIXED PERIOD Monthly Monthly Monthly Fixed Period Income Fixed Period Income Fixed Period Income of Years Payment of Years Payment of Years Payment --------- ------- --------- ------- -------- ------- 11 $8.88 21 $5.33 12 8.26 22 5.16 13 7.73 23 5.00 14 7.28 24 4.85 5 17.95 15 6.89 25 4.72 6 15.18 16 6.54 26 4.60 7 13.20 17 6.24 27 4.49 8 11.71 18 5.98 28 4.38 9 10.56 19 5.74 29 4.28 10 9.64 20 5.53 30 4.19 INCOME TABLE FOR LIFE Male/Female Male/Female Male/Female Age Life Only 10 Years Certain 20 Years Certain --- --------- ---------------- ---------------- 50 4.28 / 3.92 $4.24 / 3.90 $4.10 / 3.84 55 4.72 / 4.27 4.64 / 4.24 4.40 / 4.12 60 5.31 / 4.74 5.17 / 4.68 4.73 / 4.45 65 6.13 / 5.38 5.84 / 5.25 5.04 / 4.81 70 7.28 / 6.29 6.65 / 6.00 5.29 / 5.14 75 8.90 / 7.62 7.53 / 6.92 5.43 / 5.37 80 11.19 / 9.62 8.37 / 7.93 5.50 / 5.48 85 14.36 / 12.63 9.00 / 8.77 5.52 / 5.52 RIDERS Accidental Death Benefit Rider The Maximum Accidental Death Benefit is [$250,000]. DEFINITIONS ------------------------------------------------------------------------------- "ACCOUNT VALUE" is the entire amount we hold under a Certificate for the Owner before the Income Date. It is equal to the sum of the Variable Account Value and the Fixed Account Value.
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Annuity Income means the regular income payable to the Contract Holder. For the avoidance of doubt, the income referred to is income before income tax is deducted.
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Related to Annuity Income

  • Annuity means a stated sum payable periodically at stated times during life or during a specified or ascertainable period of time under an obligation to make the payments in return for adequate and full consideration in money or money's worth.

  • Annuity Payments The series of payments made to the Owner or any named payee after the Annuity Date under the Annuity Option selected. ANNUITY PERIOD: The period of time beginning with the Annuity Date during which Annuity Payments are made.

  • retirement annuity contract means a contract or scheme approved under Chapter III of Part XIV of the Income and Corporation Taxes Act 1988;

  • Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

  • Annuity Starting Date means, with respect to any Participant, the first day of the first period for which an amount is paid as an annuity, or, in the case of a benefit not payable in the form of an annuity, the first day on which all events have occurred which entitles the Participant to such benefit.

  • Annuity reserve means the present value, computed upon the basis of the mortality and other tables adopted by the board, of all payments to be made on account of any annuity, or benefit in lieu of any annuity, granted to a retirant as provided in this chapter.

  • life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

  • Death Benefit means the insurance amount payable under the Certificate at death of the Insured, subject to all Certificate provisions dealing with changes in the amount of insurance and reductions or termination for age or retirement. It does not include any amount that is only payable in the event of Accidental Death.

  • Single Life Annuity means a Participant’s Grandfathered Benefit and/or 409A Benefit, as applicable, payable as an annuity in equal monthly installments over the life of the Participant, commencing as of the Payment Date and terminating in the month in which the Participant dies, with no further payments thereafter.

  • Family income means all income that is included in a determination of family income under section 143(f) of the internal revenue code, 26 USC 143(f), together with the income of all adults who will reside in the residence, which income might otherwise be excluded from consideration because the individual was not expected to both live in the residence and be primarily or secondarily liable on the mortgage note.

  • Annuity Unit An accounting unit of measure used to calculate the amount of Annuity Payments.

  • Social Security Retirement Age means the age used as the retirement age under Section 216(l) of the Social Security Act, applied without regard to the age increase factor and as if the early retirement age under Section 216(l)(2) of such Act were 62.

  • Policy Year means the period of time these Terms and Benefits are in force. The first Policy Year shall be the period from the Policy Effective Date to the day immediately preceding the first Renewal Date as specified in the Policy Schedule (both days inclusive) within one (1) year period; and each subsequent Policy Year shall be the one (1) year period from each Renewal Date.

  • Unallocated annuity contract means any annuity contract or group annuity certificate which is not issued to and owned by an individual, except to the extent of any annuity benefits guaranteed to an individual by an insurer under such contract or certificate.

  • Individual retirement account means a trust, custodial arrangement, or annuity under Section 408(a) or (b), Internal Revenue Code of 1954 (26 U.S.C. Section 408 (1986)).