Annuity Contract definition

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.
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Annuity Contract means an agreement concluded between an insurer in the course of the business of such an insurer and a natural person (hereinafter referred to as the purchaser), in terms of which -
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Annuity Contract means a fixed or variable annuity contract, other than a fixed or variable annuity contract issued (1) in connection with an employment- based plan subject to the Employee Retirement Income Security Act of 1974 or
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Examples of Annuity Contract in a sentence

  • Upon the maturity of a Cash Value Insurance Contract or an Annuity Contract, each person entitled to receive a payment under the contract is treated as an Account Holder.

  • In the case of a Cash Value Insurance Contract or an Annuity Contract, the Account Holder is any person entitled to access the Cash Value or change the beneficiary of the contract.

  • For purposes of a distribution to a Participant or to a Participant's designated Beneficiary or surviving spouse, "property" includes a Nontransferable Annuity Contract, provided the contract satisfies the requirements of this Plan.

  • A Participant or Beneficiary may elect to receive an installment distribution in the form of a Nontransferable Annuity Contract.

  • If this is a Qualified Annuity Contract, the Annuitant will at all times be the Owner of the Contract.


More Definitions of Annuity Contract

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 and includes a contract 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;
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Annuity Contract means the following annuity contract(s) purchased and solely owned by the Bank: [a Flexible Premium Indexed Deferred Annuity Contract issued by Insurance Company, contract # and issued by Insurance Company, contract # or such other annuity contracts as the Bank may purchase from time to time].
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Annuity Contract means an annuity contract described in Section 403(b) of the Internal Reve- nue Code that is available to employees as described in Section 770.3 of the Insurance Code.
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Annuity Contract means a contract providing for the payment of an individual of a life annuity, and "registered annuity contract" means one which has been registered with the Commissioner in such manner as may be prescribed;
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Annuity Contract means any annuity contract, funding agreement, guaranteed investment contract or similar contract, and forms with respect thereto, issued, assumed or reinsured by any of the Insurance Companies.
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Annuity Contract means an individual or group annuity contract issued by an insurer to the Trustee for the purpose of funding annuity benefits under the Plan.
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Annuity Contract means a nontransferable group or individual contract as defined in Code Sections 403(b)(1) and 401(g), established for each Participant by the University, or by each Participant individually, that is issued by an insurance company qualified to issue annuities in a State and that includes payment in the form of an annuity.
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