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Report on Annuities for Ameriprise Training

Patrick James Son

on 21 March 2011

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Transcript of Annuities

Types ANNUITIES Purchase Distribution Taxation Fixed definition insurance product designed to
provide retirement income less than 59 and a half, 10% charge insurance liscense needed but not securities liscense for fixed annuities Investors pay premiums that are
invested in the general account EIA/FIA popular among investors seeking market participation but with a guarantee against loss
overcome the purchasing power risk of fixed annuities, but without the market risk of of variable annuity
participation and cap rates Variable Objective: Achieve growth that will match or exceed inflation Investment
Objective Guaranteed Retirement Income
A. Fixed
B. Variable Ways of
Purchasing Single Premium
Deferred Periodic Payment
Deferred Immediate Annuity
Deferred Annuity Phases 1. Accumulation
2. Pay-out 3 As:
Actuarial Dept.
AIR conservative projection of
the seperate account over the estimated life of the contract Determining monthly
payments SA performance > AIR : next month's pmt is more than this month
SA performance = AIR : next month's pmt is the same as this month
SA performance < AIR : next month's pmt is less than this month Ways to Receive
money: Surrender

Death of the annuitant

Annuitization Straight Life

Life Annuity with period certain

Joint Life with last survivor

Unit Refund Option Taxation from VA when a contract
is cashed in When a scheduled pay-out is made When a death benefit takes effect Contingent Deferred Sales Charge Level Sales Charge Exclusion Ratio Return of Cost
Basis: Annuity owner's cost basis
Annuitant's life expectancy LIFO Cost Basis Let's watch first Let's watch o.O Let's watch o.O Other types:
- Combination
- Bonus Privileges:
- voting rights
- little/no Sales Charge
Full transcript