Defined terms for the annuity market and lifetime income landscape.
Annuity disclosure requirements are the regulatory rules governing what information must be provided to an individual in connection with the purchase of an annuity, including the timing, format, and content of required disclosures.
Annuity factor is the present value today of an income stream that pays one unit of currency at each of a specified series of future dates, computed at a chosen discount rate and, in actuarial applications, weighted by survival probability.
An annuity inside an Individual Retirement Account (IRA) is an annuity contract held as the investment vehicle inside an IRA, combining the IRA's tax-advantaged account structure with the annuity's lifetime income and guarantee features.
Annuity payment options are the different payout structures a carrier makes available at annuitization, each specifying how long payments continue, whether they cover one life or two, and whether any residual value is preserved for beneficiaries after the contract owner's death.
