What is the Definition of Income Date?
What is the Definition of Income Date?
The date on which an insurer begins or is scheduled to begin making annuity benefit payments under an annuity contract. Also known as maturity date and annuity date.
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 Income Date?
You can find random definition and meaning of insurance terms below:
Meaning of Irrevocable Beneficiary in Insurance Terms
A life insurance policy beneficiary who has a vested interest in the policy proceeds even during the insured’s lifetime because the policy owner has the right to change the beneficiary designation only after obtaining the beneficiary’s consent. Contrast with Revocable beneficiary.
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.
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)
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