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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

Annuity Terms

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account current value (ACV)Acronym (Annuity, Insurance)
  ➥  In relation to retirement annuities.
accumulation period (AP)Definition (Annuity, Investment) (Investments, Annuities, Financial-banking)
The period where an investor continues to put money into his or her investment(s).
advanced rate annuity® (ARA)Acronym (Annuity)
  ➥  A registered trademark owned by Standard Insurance Company used in conjunction with their financial investment services.
annuitantDefinition (Banking, Annuity, Investment) (Investments, Annuities, Financial-banking)
An individual who owns or is the recipient of an annuity.
annuitizationDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities, Financial-banking)
The process of turning a retirement plan or annuity into income in the form of periodic payments or a single lump sum.
annuitization optionsDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities, Financial-banking)
The different income dispersal options available when annuitizing a retirement plan or annuity, such as the timeframe and list of beneficiaries.
annuityDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities, Financial-banking)
A financial instrument that disperses a number of payments over a set period of time.
annuity certainDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities)
A type of annuity that makes payments to the annuitant for a set term; payments stop when the agreed upon term ends, even if the annuitant is still alive after the term ends.
annuity considerationDefinition (Annuity, Investment) (Investments, Annuities)
The payment(s) made by an individual in order to accumulate value in an annuity.
annuity contractDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities)
A contract that outlines each party's responsibilities as they relate to an annuity.
annuity due (AD)Acronym (Annuity, Investment, Retirement)
annuity factor methodDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities)
A way of determining the maximum amount an annuitant can withdraw from an annuity before penalties are applied.
annuity in advanceDefinition (Banking, Annuity, Investment) (Investments, Annuities, Financial-banking)
When payments are made at the start of a period as opposed to the end.
annuity in arrearsDefinition (Banking, Annuity, Investment) (Investments, Annuities, Financial-banking)
When payments are made at the end of a period as opposed to the start.
annuity ladderDefinition (Banking, Annuity, Investment) (Investments, Annuities, Financial-banking)
A financial plan to purchase multiple annuities from different companies over a number of years in order to minimize interest rate risk and the risk of a total loss.
annuity mortgage (AM)Acronym (Mortgage, Annuity)
annuity tableDefinition (Banking, Annuity, Investment) (Investments, Estate-management, Annuities)
A table that can be used to find the future value of an annuity.
beneficiaryDefinition (Insurance, Annuity, Life Insurance, Investment) (Investments, Estate-management, Annuities, Insurance)
An individual or entity chosen to receive benefits from a will, trust, deed or insurance policy.
Board Certified in Annuities (BCA)Acronym (Annuity) (Designation)
cash refund annuityDefinition (Annuity, Investment) (Investments, Estate-management, Annuities)
An annuity that refunds any remaining balance to the beneficiaries or the annuitant's estate when the annuitant dies.
Certified Annuity Consultant (CAC)Acronym (Annuity) (Designation)
Certified Annuity Specialist (CAS)Definition (Pension, Academic, Annuity, Investment, Accreditation) (Designation, Investments, Estate-management, Annuities)
A professional who is certified to provide investment advice about annuities to clients.
charitable gift annuity (CGA)Canada
A method to facilitate charitable giving whereby an individual transfers assets to a charity in exchange for a tax deduction and lifetime retirement income payments from the charity.
  ➥  A form of planned giving.
commissioners annuity reserve valuation method (CARVM)Acronym (Annuity)
commissioners' reserve valuation methodDefinition (Banking, Insurance, Annuity, Investment) (Investments, Annuities, Insurance, Financial-banking)
A method used to determine the minimum statutory reserves for annuities and insurance products.
commutationDefinition (Banking, Insurance, Annuity, Life Insurance, Investment) (Investments, Estate-management, Annuities, Insurance, Financial-banking)
An option given to the beneficiaries of annuities and life insurance policies that allows them to modify the frequency and size of benefit payments.
deferred annuityDefinition (Banking, Taxes, Annuity, Investment) (Investments, Annuities, Taxation, Financial-banking)
An annuity that makes payments to the annuitant at some date in future instead of immediately.
deferred charitable gift annuity (DCGA)Acronym (Annuity)
deferred life annuity (DLA)Acronym (Annuity)
deferred payment gift annuity (DPGA)United States
  ➥  A US taxation term.
equity indexed annuity (EIA)United States
estate planningDefinition (Banking, Taxes, Insurance, Annuity, Life Insurance, Investment) (Investments, Estate-management, Annuities, Taxation, Insurance, Financial-banking)
The process of determining how assets will be dispersed after an individual's death, ideally in the most tax-efficient way possible.
extended guarantee annuity (EGA)Acronym (Annuity)
fixed annuityDefinition (Annuity, Investment) (Investments, Estate-management, Annuities)
An annuity that makes fixed payments to the annuitant with guarantees for earnings and principal.
fixed indexed annuity (FIA)Acronym (Annuity, Insurance, Finance, Retirement)
fixed premiumDefinition (Insurance, Annuity) (Annuities, Insurance)
Insurance or annuity premiums that stay level for a specific period of time.
flexible investment annuity (FIA)Acronym (Annuity)
flexible premium deferred annuity (FPDA)Acronym (Insurance, Annuity)
flexible retirement annuity (FRA)Acronym (Annuity, Retirement)
future value interest factor for an annuity (FVIFA)Acronym (Annuity, Investment)
future value multiple (FVM)Acronym (Annuity)
future value multiple annuity (FVMA)Acronym (Annuity)
future value of an annuity (FVA)Definition (Annuity, Investment, Retirement) (Investments, Estate-management, Annuities, Financial-banking)
The value of an annuity at some future date.
future value of an ordinary annuity (FVOA)Acronym (Annuity)
grantor retained annuity trust (GRAT)United States
  ➥  US taxation term.
group retirement annuity (GRA)Acronym (Annuity, Retirement)
group supplemental retirement annuity (GSRA)Acronym (Annuity, Retirement)
growth funeral plan annuity (GFPA)Ontario, Canada
  ➥  (Guaranteed Funeral Deposits of Canada)
guarantee periodDefinition (Annuity, Life Insurance, Investment) (Investments, Estate-management, Annuities)
A time period where income payments from an annuity are guaranteed.
guaranteed withdrawal benefit for life (GWBL)Acronym (Annuity, Insurance)
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Account Current Value — Guaranteed Withdrawal...
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Hybrid AnnuityTotal Return Fixed...

Search the Glossary

Index of Annuity Terms

Page 1: Account Current Value
Guaranteed Withdrawal...
Page 2: Hybrid Annuity
Total Return Fixed Annuities
Page 3: Variable Annuity
Wraparound Annuity

Notable Terms

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