Variable Annuity Business definition

Variable Annuity Business means annuity contracts which provide contractholders with the opportunity to participate in stock market appreciation on a tax-deferred basis, often with guarantees which reduce the risk of market downturns. Variable Annuity Business shall exclude GMWB Riders and Non-GMWB Riders but shall include VA Annuitization Business.
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Variable Annuity Business means insurance business under a policy or contract which provides that the annuity benefits payable to the policy holder are to be determined wholly or partly –
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Examples of Variable Annuity Business in a sentence

  • Vendor confirms that Vendor does not have a business interest or a close family relationship with any City officer or employee who was, is, or will be involved in the Vendor selection, negotiation, drafting, signing, administration, or evaluating the Vendor’s performance.

  • The Per Contract Expense Allowance applies to Structured Settlement Business, Terminal Funding Business and Variable Annuity Business (including VA Annuitization Business).

  • For each of the contracts comprising the Variable Annuity Business, the amount to be invested on a variable basis or otherwise held in the related Separate Accounts in accordance with the terms of the contracts shall be held by the Ceding Company in the Separate Accounts, and all Premiums with respect to such variable portion of the contracts shall be deposited in the Separate Accounts to the extent required by such contracts.

  • For each of the contracts comprising the Variable Annuity Business, the amount to be invested on a variable basis or otherwise held in the related Separate Accounts in accordance with the terms of the contracts shall be held by the Ceding Company in the Separate Accounts, and all Premiums with respect to such Xxxxxxx Resolution Life and Annuity Insurance Company and TR Re, Ltd.

  • The Per Contract Expense Allowance applies to Structured Settlement Business and Variable Annuity Business (including VA Annuitization Business).

  • He joined the firm in May 2002, and was responsible for Investment Trust Business and Variable Annuity Business as Head of Fund Business Development Division / Head of VA Business Division until he assumed the CEO position in 2011.

  • Trailing commissions are payable in an amount equal to .05% of accumulation values in excess of $5 million, as of the end of each calendar quarter (.20% annually), held under MegAnnuity contracts included in your Variable Annuity Business.

  • Trailing commissions are payable in an amount equal to .05% of accumulation values in excess of $5 million, as of the end of each calendar quarter (.20% annually), held under MegAnnuity contracts included in your agents' Variable Annuity Business.

  • Zhu, 2018, Lapse-and-Reentry in Variable Annuities, Journal of Risk and Insurance, 85: 911-938.Moody’s Investors Service, 2013, Moody’s: Unpredictable Policyholder Behavior Chal- lenges US Life Insurers’ Variable Annuity Business, Press release dated June 24, 2013.

  • Whenever we use the following words this is what we mean: Personal Variable Annuity Business.

Related to Variable Annuity Business

  • 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.

  • life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

  • 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.

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

  • Projected Annual Benefit means the annual retirement benefit (adjusted to an actuarially equivalent straight life annuity if such benefit is expressed in a form other than a straight life annuity or qualified joint and survivor annuity) to which the Member would be entitled under the terms of the plan assuming:

  • Group Annuity Contract means a master contract providing annuities to a group of persons under a single con- tract.

  • 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.

  • Special Enrollment Period means a period of time allowed under this Plan, other than the eligible person’s Initial Enrollment Period or an Open Enrollment Period, during which an eligible person can request coverage under this Plan as a result of certain events that create special enrollment rights.

  • Structured settlement annuity means an annuity purchased in order to fund periodic payments for a plaintiff or other claimant in payment for or with respect to personal injury suffered by the plaintiff or other claimant.

  • 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.

  • Annual Enrollment Period or "Enrollment Period" means the period before each policy anniversary so designated by the Sponsor and Lincoln during which you may enroll for coverage under this policy.

  • ANNUITY DATE The date on which Annuity Payments begin. The Annuity Date is shown on the Contract Schedule. ANNUITY OPTIONS: Options available for Annuity Payments.

  • Average annual payroll means the average of the annual

  • Annuity Commencement Date is the first day of the month an annuity begins under this contract. This date may not be later than the date a Participant's periodic benefits are required to commence under the Code.

  • 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.

  • Initial Enrollment Period means one of the following periods during which you may first enroll for coverage under this plan:

  • Semi-Annual Period means each period of six-months, commencing on the first day of a Fiscal Year; provided that the first such period shall begin on July 1, 2013 and end on December 31, 2013.

  • 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.

  • Semi-Annual Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions--Semi-Annual Distributions" in the Prospectus Part I for a Trust.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Traditional IRA Means an individual retirement account as defined in Code Section 408(a).

  • Dual enrollment means the enrollment of a 3- or 4-year-old student who is eligible for special education services in both a public school district, through which the student receives special education services, and a private or home school.

  • Subsidized Xxxxxxxx Loan means a Loan for which the interest rate is governed by Section 427A(a) or 427A(d) of the Higher Education Act.

  • Base Annual Salary means the annual cash compensation relating to services performed during any calendar year, whether or not paid in such calendar year or included on the Federal Income Tax Form W-2 for such calendar year, excluding bonuses, commissions, overtime, fringe benefits, stock options, relocation expenses, incentive payments, non-monetary awards, directors fees and other fees, automobile and other allowances paid to a Participant for employment services rendered (whether or not such allowances are included in the Employee’s gross income). Base Annual Salary shall be calculated before reduction for compensation voluntarily deferred or contributed by the Participant pursuant to all qualified or non-qualified plans of any Employer and shall be calculated to include amounts not otherwise included in the Participant’s gross income under Code Sections 125, 132(f), 402(e)(3), 402(h), or 403(b) pursuant to plans established by any Employer; provided, however, that all such amounts will be included in compensation only to the extent that, had there been no such plan, the amount would have been payable in cash to the Employee.

  • Starting Date means the date referred to in Clause 3.3 hereof;

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.