Glossary

Annuity
A contract sold to you by an insurance company that guarantees to pay you a certain amount of money on a regular basis for the rest of your life or for the term of the contract.

Death Benefit
Amount of money paid out to a beneficiary when the holder of the annuity dies.

Floor
The minimum rate of interest that will be paid on your annuity. Usually negotiated with your provider.

Rollover
The transfer of any money you have in an employer sponsored retirement plan or pension plan into another employer sponsored retirement plan.

Surrender Value
The value after fees and charges are deducted should you surrender an annuity.