How confused are you when I keep throwing out all of these terms or acronyms for a retirement annuity? See, I just did it again.
Well, here it is, a crash course on fixed annuities and a thesaurus for annuity terminology for the annuity types. You can check out this video at any point in time and look at what the retirement annuity term or acronym means. Further down in the description, I will link several videos which will give you more the ‘dictionary’ explanation for the annuity types.
Table of Contents:
00:00 – Introduction
01:01 – Retirement Annuity
01:58 – Guaranteed Income Annuity
02:13 – Longevity Annuity
02:30 – Tax Deferred Annuity
02:59 – Immediate Annuities
03:36 – Deferred Annuity
04:32 – Deferred Income Annuity
05:04 – Qualified Longevity Annuity Contract
05:59 – Multi Year Guaranteed Annuity
06:33 – Fixed Index Annuity
Watch the video till the end to learn why a fixed index annuity is classified as a fixed annuity!
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▶️ Other videos:
• Single Premium Immediate Annuity/SPIA:
• Deferred Income Annuity/DIA:
• Qualified Longevity Annuity Contract/QLAC:
• Multi Year Guaranteed Annuity/MYGA:
• Fixed Index Annuity/FIA:
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**Healthy in Retirement makes content available as a service to its customers and other visitors, to be used for informational purposes only. While my best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.
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LEARN MORE ABOUT: Retirement Annuities
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A DIA could also be referred to as a (non qualified) LAC. Though, confusingly, one could contract a portion of one’s qualified retirement account into a DIA/LAC but not a QLAC.
I’ve never heard it referred to like this, but the analogue to a SPIA could be a SPDA. I’ve heard those referred to as DIA.
I’ve heard a MYGA referred to as a FRA, Fixed Rate Annuity.