The conversion of the account balance of a deferred annuity contract to income payments.
The conversion of an annuity contract's value into a series of income payments.
The process of changing an annuity policy from an investment fund to a series of periodic income payments.
Annuitization involves converting your accumulated retirement assets into a series of periodic payments that last for a period of time of your choosing, in accordance with the provisions of the annuity contract.
The conversion of an accumulated sum of money into benefit-paying status as an annuity.
when the annuity is converted from an account that accumulates funds to an account that pays out to you periodically. “Cashing-in†your annuity.
the act of converting accumulation balances in the Annuity Fund into an annuity.
When you annuitize your contract, you trade the value of your contract for the issuing company's guarantee to make payments to you for a certain period, or for your lifetime.
a distribution option with an annuity contract that entitles you to payments that are an even distribution of your account's principal and interest. Your payment amount will depend on the annuity option selected, your age, and the value of your account; frequency of payments and other provisions are outlined in the annuity contract Single life annuity provides income benefits for your life only Joint life annuity provides income benefits for your life and your designated survivor's life
To select a settlement option beginning periodic payments from an annuity contract.
This process of converting an annuity into a guaranteed income stream for an annuitant's life or a specific period of time.