Annuity glossary
Deferred Income Annuity (DIA)
You pay a premium now and guaranteed income payments start at a future date you select, more than one year away. Because the insurer holds your money longer before paying anything out, each dollar of premium typically buys more future income than an immediate annuity would. A QLAC is a special tax-qualified version. The contract explains the available terms, charges, access limits, and payout choices that apply. Any guarantee is backed by the claims-paying ability of the issuing insurer.
Any guarantee is backed by the claims-paying ability of the issuing insurer.
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