Tag: annuity
Date Certain
DefinitionDate certain is a legal term for the date on or by which the actions of a contract can be reasonably completed, and is...
Death Benefit
What is 'Death Benefit' Death benefit is the amount on a life insurance policy, annuity or pension that is payable to the...
National Organization Of Life And Health Insurance Guaranty Associations (NOLHGA)
What is 'National Organization Of Life And Health Insurance Guaranty Associations - NOLHGA' NOLHGA is a voluntary organization of U.S. life- and...
Qualified Joint And Survivor Annuity (QJSA)
What is 'Qualified Joint And Survivor Annuity - QJSA'
An annuity payment from a qualified plan or 403(b) account that provides a life annuity to...
Life Insurance
DefinitionLife insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary...
Joint Life With Last Survivor Annuity
What is 'Joint Life With Last Survivor Annuity' An insurance product that, when annuitized, makes payments to the annuitant, the annuitant and...
Underlying Mortality Assumption
What is 'Underlying Mortality Assumption' Projections of expected death rates used by actuaries to estimate insurance premiums and pension obligations. Underlying mortality...
Valuation Mortality Table
What is 'Valuation Mortality Table' A statistical chart that is used by insurance companies to calculate the statutory reserve and cash surrender...