Asset Allocation Program A system for allocating variable annuities to sub-accounts based on a contractual owner`s financial objectives and risk tolerance. Portfolio rebalancing programs redistribute the amount allocated to each sub-account when target percentages are removed from the focus over time, as the value of some sub-accounts changes faster than others. My rehabilitation was not fully covered by insurance and most of the money is in a pension that I receive each month. A pension or beneficiary of another life, such as a spouse, family member or friend, can be guaranteed in whole or in part for their lifetime, with an additional charge (either by an increase in payments (premium) or by a reduction in benefits. For example, it is customary to purchase a pension that continues to pay to the annuitant`s spouse after death as long as the spouse survives. The pension paid to the spouse is called a reversion pension or reversion pension. However, if the annuitant is healthy, it may be more advantageous to choose the higher payment option only for your life and to purchase life insurance that would pay income to the survivor. The pure living pension can have serious consequences for the annuitant who dies before recovering his investment in the contract. Such a situation, referred to as forfeiture, can be mitigated by the addition of a specific feature where the pension issuer is required to pay pensions for at least a number of years; If the annuitant exceeds the specified period, the pensions remain in place until the death of the annuitant and, if the annuitant dies before the expiry of the specified period, the estate or beneficiary of the person concerned is entitled to the remaining payments. The trade-off between the pure living pension and the survival pension is that the payment of annuities for the latter is lower.
A viable alternative to retirement for life is the acquisition of a life policy with a premium covering the premium lost in retirement. Systematic Payment Plan A distribution method that allows a variable pension contract owner to regularly obtain a certain amount as a partial termination of the value of the retirement contract prior to the retirement bonus. Unlike lifetime pensions, systematic withdrawals continue until the contractual value is exhausted.