A contract sold by life insurance companies that offers tax-deferred accumulation of earnings and various distribution options such as partial withdrawals, full surrender or a guaranteed income called annuitization. An annuitization option is one that pays a fixed or variable … Continued

Annuity Payments

Periodic payments made to an annuitant or to the annuitant’s designated beneficiary. The payments may be made on an annual, semiannual, quarterly, or monthly basis, and may last for life or for a specified period. Moreover, depending on whether the … Continued


A professional, formal, written estimation of the value of property.


Increase over time in the value of an asset such as a stock, bond, commodity, or real estate.


Property owned by a business, institution, or individual, such as cash, investments, personal property, real estate, and ownership in a business, that has a present market value or worth.


The party to whom an assignment (a transfer of property or rights to property) has been granted.

Association Plan

A group insurance policy purchased by an association or organization to provide coverage for its members.


Property and assets exposed to the danger of loss.

Attained Age

A person’s age at any point in time, determined for life insurance purposes, often expressed as the age reached at the last birthday.


The original cost, plus out of pocket expenses, of an asset (such as property, stock, or a business interest) that is used to determine gain or loss when the asset is disposed, whether through sale, gift, or bequest. The basis … Continued