Payment, or one of the regular periodic payments, an annuitant makes for an annuity.
Insurance Encyclopedia
Annuity deferral
See: INCOME DRAWDOWN; AGE 75 RULE.
Annuity period
Time between each benefit payment in an annuity contract.
Annuity taxation
The taxation of annuity and pension payments. The annuitant is taxed on only that part of his or her annuity which is regarded as interest. The balance, a return of capital, is taxfree. Retirement annuities (pensions) are taxed as earned income, but part of the benefits can be commuted to a tax free lump sum, often used to purchase an immediate life annuity a part of which is a return of capital and therefore tax free.
Annuity units
Ownership shares in a variable annuity’s separate account fund after the accumulation period ends. Annuity units are purchased with accumulation units and are used to establish benefit payment amounts. See also accumulation units.
Annul
To make or declare void or invalid, such as invalidating a contract of marriage.
ANSI 835
See: electronic remittance advice (ERA).
Answer
A statement made by the defendant in response to a complaint or action which has been brought against the defendant. It states why the defendant should not be held liable.
Antedating
Refer: “Backdating.”
Anteroposterior (AP)
Located front to back.