Guaranteed minimum period

 

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Guaranteed minimum period

The period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death.



Similar Matches

Guaranteed death benefit

Guaranteed death benefit

A life policy in which there is a minimum sum payable on the death of the life assured.


Guaranteed trust

Guaranteed trust

Some unit trusts offer a floor price and guarantee their bid price will not be allowed to fall below that level. They also 'lock in' any growth achieved every few months.From an investor's point of view, this guarantee provides reassurance about the value of their investment. Even if the value of the trust's assets falls well below the floor, the bid price (the amount that an investor can sell his units for) will remain at the guaranteed level.


Guaranteed growth bond

Guaranteed growth bond

A bond in which a single premium secures a guaranteed amount at its maturity date.


Guaranteed insurance contract

Guaranteed insurance contract

A contract promising a stated nominal interest rate over some specific time period, usually several years.


Guaranteed insurability

Guaranteed insurability

A life and health insurance policy feature that enables the insured to add coverage at future times and at fixed and agreed-upon rates regardless of health conditions.


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