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Hybrid annuity |
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Hybrid annuityA type of insurance company investment that combines the benefits of both a fixed annuity and a variable annuity.Hybrid annuity Similar MatchesRetirement annuity contract (RAC)Retirement annuity contract (RAC)Prior to 30th June1988, people not in pensionable employment (employment where no pension scheme exists) or people who were self employed were able to qualify for tax relief for contributions made to a pension scheme known as a retirement annuity under sections 226 of the Income and Corporation Taxes Act 1970. Although RACs were replaced by personal pension plans from 1st July 1988 those already in force may continue to operate. Deferred nominal life AnnuityDeferred 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. Variable annuityVariable annuitySee: 'annuity'. Period certain annuityPeriod certain annuityAn annuity that provides guaranteed payments to an annuitant for a specified period of time. Fixed annuityFixed annuityIn the US, an annuity which guarantees payments to an annuitant which are fixed for life or a specific period. Similar to a level annuity in the UK. Further SuggestionsDeferred payment annuityescalating annuity annuity certain Equivalent annual annuity Life annuity joint life and survivor annuity Annuity due Reverse annuity mortgages (RAM) purchased life annuity Nonqualifying annuity Joint and survivor annuity temporary annuity Annuity factor qualifying annuity annuity deferral joint life annuity Immediate payment annuity Annuity starting date compulsory purchase annuity Single Premium Deferred Annuity (SPDA) increasing life annuity Wraparound annuity Combination annuity Annuity in arrears Tax sheltered annuity |
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