What is the Definition of B-Share Variable Annuity?
What is the Definition of B-Share Variable Annuity?
A form of variable annuity contract with no initial sales charge but if the contract is cancelled the holder pays deferred sales charges (usually from 5 to 7 percent the first year, declining to zero after from 5 to 7 years). The most common form of annuity contract.
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 Insurance?
What is the Definition of B-Share Variable Annuity?
Check out other definition of insurance terms below:
What is the Meaning of JOINT UNDERWRITING ASSOCIATION/JUA In Insurance Terms?
Insurers that join together to provide coverage for a particular type of risk or size of exposure, when there are difficulties in obtaining coverage in the regular market, and which share in the profits and losses associated with the program. JUAs may be set up to provide auto and homeowners insurance and various commercial coverages, such as medical malpractice. (See Assigned risk plans; Residual market)
What is the Meaning of JUNK BONDS In Insurance Terms?
Corporate bonds with credit ratings of BB or less. They pay a higher yield than investment grade bonds because issuers have a higher perceived risk of default. Such bonds involve market risk that could force investors, including insurers, to sell the bonds when their value is low. Most states place limits on insurers’ investments in these bonds. In general, because property/ casualty insurers can be called upon to provide huge sums of money immediately after a disaster, their investments must be liquid. Less than 2 percent are in real estate and a similarly small percent are in junk bonds.
What is the Meaning of JOINT AND SURVIVOR ANNUITY In Insurance Terms?
An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.
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