Annuity Contract definition

Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals. The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

Annuity Contract means an agreement concluded between an insurer in the course of the business of such an insurer and a natural person (hereinafter referred to as the purchaser), in terms of which -

Annuity Contract means a fixed or variable annuity contract, other than a fixed or variable annuity contract issued (1) in connection with an employment- based plan subject to the Employee Retirement Income Security Act of 1974 or

Examples of Annuity Contract in a sentence

• In the case of a Cash Value Insurance Contract or an Annuity Contract, the Account Holder is any person entitled to access the Cash Value or change the beneficiary of the contract.

• Upon the maturity of a Cash Value Insurance Contract or an Annuity Contract, each person entitled to receive a payment under the contract is treated as an Account Holder.

• The term also includes a contract that is considered to be an Annuity Contract in accordance with the law, regulation, or practice of the jurisdiction in which the contract was issued, and under which the issuer agrees to make payments for a term of years.

• Each owner of an Annuity Contract will not be subject to any deductions, charges, or assessments imposed by NYLIAC, other than those provided in the Annuity Contracts.

• Each Participant or Beneficiary shall direct the investment of his or her Account among the investment options available under the Annuity Contract or Custodial Account in accordance with the terms of the Individual Agreements.

More Definitions of Annuity Contract

Annuity Contract means a contract under which the issuer agrees to make payments for a period of time determined in whole or in part by reference to the life expectancy of one or more individuals and includes a contract considered to be an annuity contract in accordance with the law, regulation or practice of the jurisdiction in which the contract was issued and under which the issuer agrees to make payments for a term of years;

Annuity Contract means a contract that is issued by an insurance company qualified to issue annuities in a State and that includes payment in the form of an annuity. See § 1.401(f)–1(d)(2) and(e) for the definition of an annuity, and see § 1.403(b)–8(c)(3) for a special rule for certain State plans. See also§§ 1.403(b)–8(d) and 1.403(b)–9(a) for addi- tional rules regarding the treatment of custodial accounts and retirement in- come accounts as annuity contracts.

Annuity Contract means any agree- ment between the insurer and the con- tract owner whereby the insurer prom- ises to pay out a fixed or variable in- come stream for a period of time.

Annuity Contract means a nontransferable contract as defined in section 403(b)(1) of the Code, established for each Participant by the Employer, or by each Participant individually, that is issued by an insurance company qualified to issue annuities in the state in which the Employer or Participant, as applicable, resides and that includes payment in the form of an annuity.

Annuity Contract means an annuity contract described in Section 403(b) of the Internal Reve- nue Code that is available to employees as described in Section 770.3 of the Insurance Code.

Annuity Contract means any annuity contract, funding agreement, guaranteed investment contract or similar contract, including endorsements, riders and amendments thereto, and forms with respect thereto, issued, assumed, reinsured, exchanged, modified, marketed or administered by the Acquired Subsidiaries.

Annuity Contract means an individual or group annuity contract issued by an Insurer to the Trustee for the purpose of funding annuity benefits under the Plan.