Annuity Date Definition

The annuity contract has a specified maturity date which the owner must select an option for settlement and begin to receive payments through the process of annuitizing the contract. It does not mean that is the date you have to wait to have access to your funds. A contract in which an insurance company agrees to pay an income for life or for a specified number of years.

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If an immediate annuity this date is shortly after the annuity is purchased.

Annuity date definition. The annuity date is specified at the time the annuity is purchased but it isnt a hard-and-fast date. The date upon which the first and potentially anniversary dates when money is due to the benficiary of the agreement or policy. Annuity-starting-date meaning The date on which annuity payments begin.

Legal definition for ANNUITY DATE. In most cases it can easily be changed. Nor does it mean that is the date you have to wait to begin annuity payments.

If it is a deferred annuity the starting date may occur some years after purchase especially following retirement. Define Annuity Starting Date. The date on which an annuitant receives hisher first payment from an annuity.

Sample 1 Sample 2. The due date of annuity has something to do with the benefits of insurance rather than the objective of. Alternatively an ordinary annuity payment is a recurring issuance of money at the end of a period.

Annuity Commencement Date means the first day of any month upon which an annuity begins under the Contract. Annuity Date Date on which the first payment is made to the annuitant or the named beneficiary. Means with respect to any Participant the first day of the first period for which an amount is paid as an annuity or in the case of a benefit not payable in the form of an annuity the first day on which all events have occurred which entitles the Participant to such benefit.

However for any Participant this date shall not be later than the required beginning date as defined in the applicable sections of the Code and Regulations issued thereunder. Answered on May 27 2013. For an annuity the maturity date or more appropriately the income date is the date at which periodic income will be paid.