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Glossary
• Annuitant and Co-Annuitant Information
• Annuity Information
• Types of Annuities
• Contact Information
• Comments
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Glossary
Annuitant and Co-Annuitant Information
First Name – the first name of the person(s) receiving the annuity.
Last Name – the last name of the person(s) receiving the annuity.
Date of Birth – the date of birth of the person(s) receiving the annuity
(mm/dd/yyyy).
Gender – the sex of the person(s) receiving the annuity.
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Annuity Information
Premium or Benefit Amount – if the quote is to be derived from an initial
deposit amount provide the deposit amount. If the quote is to be derived
from a desired benefit provide benefit amount.
Premium Deposit Date – the date in which assets will be transferred to the
insurance company.
Benefit Commencement Date – the date in which the benefits would begin
being received by the annuitant.
If the annuity is purchased from a qualified plan,
please ensure that the benefit commencement date is within 6 months of
today’s date. If the annuity is to be purchased from a
non-qualified plan, all dates are acceptable
Benefit Payment Frequency – the frequency in which the benefit is paid.
State of Residency – the state in which the annuity will be issued.
Source of Funds – if the deposit comes from a 401(a), 401(k), 403(b), 457,
or an IRA choose qualified. All other sources of funds, including executive packages,
are non-qualified.
Type of Plan – if the deposit comes from a pension plan choose defined
benefit. If the deposit comes from a 401(k) plan choose defined contribution.
COLA – “cost of living adjustment.” If applicable provide the percentage
of adjustment on the annuity. Return to Top
Types of Annuities
Life Only – annuitant will receive benefits for the remainder of the annuitants life.
10 Year Fixed Period – the annuitant or beneficiary will receive benefits for 10 years.
15 Year Fixed Period - the annuitant or beneficiary will receive benefits for 15 years.
20 Year Fixed Period - the annuitant or beneficiary will receive benefits for 20 years.
Life, 10 Year Fixed Period - annuitant will receive benefits for the remainder of the
annuitants life and benefits are guaranteed to beneficiaries for 10 years.
Life, 15 Year Fixed Period - annuitant will receive benefits for the remainder of the
annuitants life and benefits are guaranteed to beneficiaries for 15 years.
Life, 20 Year Fixed Period - annuitant will receive benefits for the remainder of the
annuitants life and benefits are guaranteed to beneficiaries for 20 years.
Joint & Survivor 50% - annuitant will receive benefits for the remainder of the annuitants
life. The Co-annuitant will receive 50% of the benefit for the remainder of the co-annuitants life.
Joint & Survivor 75% - annuitant will receive benefits for the remainder of the annuitants life.
The Co-annuitant will receive 75% of the benefit for the remainder of the co-annuitants life.
Joint & Survivor 100% - annuitant will receive benefits for the remainder of the annuitants life.
The Co-annuitant will receive 100% of the benefit for the remainder of the co-annuitants life.
Joint & Survivor 50%, 10 Year Fixed Period - annuitant will receive benefits for the remainder of
the annuitants life. The Co-annuitant will receive 50% of the benefit for the remainder of the
co-annuitants life. Benefits are guaranteed to beneficiaries for 10 years.
Joint & Survivor 75%, 10 Year Fixed Period - annuitant will receive benefits for the remainder
of the annuitants life. The Co-annuitant will receive 75% of the benefit for the remainder of the
co-annuitants life. Benefits are guaranteed to beneficiaries for 10 years.
Joint & Survivor 100%, 10 Year Fixed Period - annuitant will receive benefits for the remainder
of the annuitants life. The Co-annuitant will receive 100% of the benefit for the remainder of the
co-annuitants life. Benefits are guaranteed to beneficiaries for 10 years.
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Contact Information
Email - the email address of the contact person. Quote will be sent via email to the
contact person for the annuity.
Telephone - telephone number as another means of contact in any question arise with
the annuity quote. Return to Top
Comments
Comments – please provide any comments appropriate for the quoting of this annuity.
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