风险与保险原理课件_ch18 年金(英文版)(62页)ppt.pdf
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1.Reverse application of the law of large
numbers as it is used in life insurance.
2.Law of averages permits a lifetime guaranteed income to each annuitant.
3.Persons who live longer than average
offset those who live a shorter-than-average period
4.Every payment to annuitant is part interest,
part principal, and part survivorship benefit.
Classification of annuities
1.Individual versus Group
2.Fixed versus Variable
3.Immediate versus Deferred
4.Single Premium versus Installment
5.Single Life versus Two or More Lives
6.Pure Life Annuity versus Annuity Certain
Annuity Certain Contracts
1.Pure life annuity
2.Life annuity with period certain
3.Life annuity with installment refund
4.Life annuity with cash refund
Tax Treatment of Annuities
Specialized Annuities
Single-Premium Deferred Annuity
1.Increased popularity since TRA-86
eliminated many tax shelters.
2.Currently taxed same as other annuities:
earnings accumulate on tax-deferred basis.
3.Some insurers sell SPDAs with deposit premium
as low as $2,500, but more common minimum is $10,000.