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Title
Annuity Glossary for Fixed Annuities, Deferred Annuities, and Immediate Annuities
Description
In a variable annuity, distribution of assets across multiple classes, e.g., stocks, bonds, cash, in order to meet an individual’s financial goals in terms of risk and length of investment. Can reduce risk and maximize returns on the investment.
Fee incurred by an investor for cashing out early on a deferred annuity or variable annuity, usually within the first 7–10 years after investing. Also called a surrender charge.
If a fixed annuity’s interest rate falls unpredictably below a rate specified in the annuity contract, assures the surrender-charge-free withdrawal of all funds from an annuity account.
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