variable annuity

variable annuity
An annuity under a contract which guarantees the annuitant that upon reaching a specified age he will receive periodic payments, the amount of which is not fixed and has no assured minimum, but will vary according to the success of the investment policy of the company which issues the contract. Securities & Exchange Com. v Variable Annuity Life Ins. Co. 359 US 65, 3 L Ed 2d 640, 79 S Ct 618.

Ballentine's law dictionary. . 1998.

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  • variable annuity — see annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. variable annuity …   Law dictionary

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  • variable annuity — /ˌveəriəb(ə)l ə nju:əti/ noun an annuity based on funds invested in common stock, which varies with the value of the stock, as opposed to a fixed annuity …   Dictionary of banking and finance

  • variable annuity — an annuity in which the premiums are invested chiefly in common stocks or other securities, the annuitant receiving payments based on the yield of the investments instead of in fixed amounts. * * * …   Universalium

  • Variable Annuity — An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. The portfolio generally… …   Investment dictionary

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  • Annuity (European financial arrangements) — An annuity can be defined as a contract which provides an income stream in return for an initial payment.Immediate annuityAn immediate annuity is an annuity for which the income stream begins at a time after the initial payment which is less than …   Wikipedia

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  • annuity — /an(y)uwatiy/ A right to receive fixed, periodic payments, either for life or for a term of years. Moore v. O Cheskey, App., 87 N.M. 66, 529 P.2d 292, 293. A fixed sum payable to a person at specified intervals for a specific period of time or… …   Black's law dictionary

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