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Deferred nominal life Annuity |
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Deferred nominal life AnnuityA monthly fixed-dollar payment beginning at retirement age. It is nominal because the payment is fixed in a dollar amount at any particular time, up to and including retirement.Deferred nominal life Annuity Similar MatchesDeferred state pensionDeferred state pensionWhen reaching retirement age, a person can elect to defer payment of his/her state pension. The result of this is to increase the value of the pension by one seventh of one percent for every week deferred. The maximum deferment period is five years and no further contributions are required. Tax deferred incomeTax deferred incomeDividends, interest, and unrealized capital gains on investments in an account such as a qualified retirement plan, where income is not subject to taxation until a withdrawal is made. Deferred chargeDeferred chargeAn expenditure treated as an asset that carries forward until it becomes pertinent to the business at hand, e.g., advance rent payment. Child deferred endowmentChild deferred endowmentAn endowment assurance, on the life of a child, which can be taken as cash at maturity or converted to a full endowment or whole life assurance. Deferred interest mortgageDeferred interest mortgageInterest is not paid during the deferral period. When the period is over, the accumulated interest is added to the original loan. Some lenders add this interest to the total of your loan to give a new loan figure and new interest payments. Others calculate your interest payments on the original loan as normal and then spread the repayment of the deferred interest over a set period of time. The latter method is better for you, as adding the deferred interest to the loan means you end up paying interest on the deferred interest! Further Suggestionsdeferred incomeTax deferred retirement plans Deferred call Single Premium Deferred Annuity (SPDA) Deferred payment annuity Periodic purchase deferred contract Deferred compensation Contingent deferred sales charge (CDSC) Deferred interest bond Deferred equity Deferred account |
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