What is the Definition of Individual Retirement Account/Ira?

What is the Definition of Individual Retirement Account/Ira?

A tax-deductible savings plan for those who are self-employed, or those whose earnings are below a certain level or whose employers do not offer retirement plans. Others may make limited contributions on a tax-deferred basis. The Roth IRA, a special kind of retirement account created in 1997, may offer greater tax benefits to certain individuals.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Individual Retirement Account/Ira?

What is the Definition of Individual Retirement Account/Ira?

You can find random definition and meaning of insurance terms below:


Meaning of Indemnify in Insurance Terms

Provide financial compensation for losses.


Meaning of Independent Agent in Insurance Terms

Agent who is self-employed, is paid on commission, and represents several insurance companies. (See Captive agent)


Meaning of Indeterminate Premium Life Insurance Policy in Insurance Terms

A type of nonparticipating whole life policy that specifies two premium rates—both a maximum guaranteed rate and a lower rate. The insurer charges the lower premium rate when the policy is purchased and guarantees that rate for at least a stated period of time, after which the insurer uses its actual mortality, interest, and expense experience to establish a new premium rate that may be higher or lower than the previous premium rate. Also known as nonguaranteed premium life insurance policy and variable premium life insurance policy.


Thank you for visiting our website and read this FAQ article about "What is the Definition of Individual Retirement Account/Ira?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter