What is the Definition of Gross Annuity Cost?

What is the Definition of Gross Annuity Cost?

A monetary amount equal to the present value of future periodic income payments under an  annuity contract, calculated on a gross basis, with a specific provision for expense loading. Contrast with Net annuity cost.

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 Gross Annuity Cost?

What is the Definition of Gross Annuity Cost?

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

Meaning of Mortgage-Backed Securities in Insurance Terms

Investment grade securities backed by a pool of mortgages. The issuer uses the cash flow from mortgages to pay interest on the bonds.

Meaning of Multiple Peril Policy in Insurance Terms

A package policy, such as a homeowners or business insurance policy, that provides coverage against several different perils. It also refers to the combination of property and liability coverage in one policy. In the early days of insurance, coverages for property damage and liability were purchased separately.

Meaning of Municipal Bond Insurance in Insurance Terms

Coverage that  guarantees bondholders timely payment of interest and principal even if the issuer of the bonds defaults. Offered by insurance companies with high credit ratings, the coverage raises the credit rating of a municipality offering the bond to that of the insurance company. It allows a municipality to raise money at lower interest rates. A form of financial guarantee insurance. (See Financial guarantee insurance)

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