(n.) A sum of money, payable yearly, to continue for a given number of years, for life, or forever; an annual allowance.
Example Sentences:
(1) The ABI figures revealed that the best annuity for someone who is a heavy smoker and has severely impaired health was at Prudential, which paid out 46% more than the worst, from Friends Life.
(2) Annuities have suffered their worst year on record, with payouts to newly retiring pensioners falling by 15% so far during 2016, according to data provider Moneyfacts.
(3) Only last month the Financial Conduct Authority issued a report in which it said millions of older people were getting a poor deal from Britain's multibillion-pound annuity market, with the biggest losers those with the least money put aside for their retirement.
(4) However, to buy an annual pension income of £1,300 via a traditional annuity that also provided an income for your spouse after you die, you would need a pension pot of roughly £25,000.
(5) Annuity rates so low that a pension pot running into the seven figures is required to deliver any kind of decent pension.
(6) People who prefer to buy an annuity could opt for a "value protected annuity": in return for an extra cost, typically 5% of the income, the policyholder can arrange for any residual money left over when they die to be paid to their beneficiaries.
(7) He adds: "The problem with the chancellor's decision is very simple: all the evidence indicates very few people will opt to buy an annuity under the new rules – and the assumption of 30% taking this route deployed by the Treasury in its costings appears highly optimistic.
(8) The insurers pay an annuity (a guaranteed annual income in retirement) of £839 a year on a savings pot of £18,000, compared to £1,099 at the best payer, Reliance Mutual.
(9) On average, women take out annuities at the age of 59, marginally earlier than men at 62, but both do so significantly sooner than they have to by law.
(10) If the recession results in interest rates remaining low for years, as many in the City are now predicting, then annuity rates will also remain at paltry levels.
(11) Figures from pensions provider Hargreaves Lansdown show annuity rates have plummeted since July 2008.
(12) Table Photograph: asdf In recent years annuity providers have begun offering better payouts to those people they think will die relatively early.
(13) The group sold its US life and annuity business last year for £1.7bn , as well as many other smaller overseas operations, to strengthen its balance sheet.
(14) The Association of British Insurers is believed to be on the verge of approving a new mandatory code of conduct for pension companies that sell pension income – also known as annuities – ensuring people will get the highest possible income in return for their pension pot.
(15) "Annuities may well be broken, but the answer is not to end responsible collective risk-sharing.
(16) By forcing long-term interest rates down and inflation up, QE1 has already increased pension fund liabilities by an estimated £74bn , while driving annuity costs to record levels.
(17) The chancellor said: “For many an annuity is the right product, but for some it makes sense to access their annuity now.
(18) Do not simply accept the annuity offered by your pension provider – shop around for the highest rate possible.
(19) The thinktank also suggests removing the option of taking out 25% of your pension fund as a tax free lump; instead investors would get a 5% top up to their pension pot just before they use the money to buy an annuity.
(20) It will also end the rules requiring compulsory annuitisation (having to buy an annuity with your pension) at 75.
Premium
Definition:
(n.) A reward or recompense; a prize to be won by being before another, or others, in a competition; reward or prize to be adjudged; a bounty; as, a premium for good behavior or scholarship, for discoveries, etc.
(n.) Something offered or given for the loan of money; bonus; -- sometimes synonymous with interest, but generally signifying a sum in addition to the capital.
(n.) A sum of money paid to underwriters for insurance, or for undertaking to indemnify for losses of any kind.
(n.) A sum in advance of, or in addition to, the nominal or par value of anything; as, gold was at a premium; he sold his stock at a premium.
Example Sentences:
(1) He added: "Jobs and innovation and skills are really at a premium and are so needed, particularly in a place like the UK."
(2) Increasing food inflation means families within this group have to pay a £280 cost of living "premium" as they spend a greater share of their budget on essentials (which have risen faster than other goods) compared with higher-income households.
(3) It is likely most simply cannot afford full unsubsidized premiums.” Similarly, an analysis by the Urban Institute predicts that many of those who will lose their subsidies won’t be able to afford it without them and will cancel their insurance as a result.
(4) Rupert Murdoch has a battle on his hands to win over leading shareholders in BSkyB, who scent the opportunity for a high-stakes game of brinkmanship and are pushing for a premium price of well over £10bn for full control of the pay-television company.
(5) They are also concerned that house insurance premiums may increase substantially," she said.
(6) Houlihan said there was no sign that the "premium sports rights bubble" was about to burst: "Premium live sport delivers large audiences, typically characterised by an attractive demographic profile.
(7) • You can make a quick search for outstanding NS&I premium bond prizes online using the prize checker .
(8) Patients were randomized to have their skin closed with either continuous subcuticular non-absorbable polypropylene 'prolene' suture (33 patients) or metal skin staples (Autosuture 'Premium' or Davis and Geck 'Oppose'; 33 patients).
(9) The national obsession with smartphones and tablets appears to be firing demand for EE's faster service, despite its premium price.
(10) Debenhams said it also trailed behind its rivals in terms of convenience because it lacked a competitive range of premium delivery options.
(11) The company, which claims to have more than 24 million users, a quarter of whom pay for its premium ad-free service, has a $200m credit line from lenders including Morgan Stanley, Deutsche Bank and Goldman Sachs, any of which could take the lead role in a flotation and earn millions in fees.
(12) The company’s success reflects affluent shoppers’ willingness to pay extra for products perceived to be of high quality, made with premium ingredients.
(13) This is in contrast to regular monthly premium payments which incur no further cost to the consumer if cancelled.
(14) In early February , about 70% of those who signed up for Aetna health plans through Obamacare went on to pay their premiums.
(15) The aim would be to raise insurance premiums and other shipping costs, and so boost oil prices as a way of inflicting pain on the west and replacing revenues lost through the embargo.
(16) Total costs (premium and out-of-pocket) for enrollees are 10 to 40 per cent lower than those for comparable people with health insurance.
(17) Almost 15,000 adopted children, many of them teenagers, will miss out on a £1,900 "pupil premium" for publicly funded schools in England, to provide extra help for them, according to the support group Adoption UK .
(18) A number of companies, including B&Q, Tesco and Morrisons have raised basic pay only to cut perks and premium payments for weekend, holiday or late working.
(19) I think that’s why 70% of the public now supports public ownership … the passengers pay a premium for privatisation.” For Cash, the short changing of passengers to benefit a few shareholders is symptomatic of the current regime – austerity for the many and prosperity for the few.
(20) However, even if you prefer Marmite to marmalade on your toast, citrus peel is a powerful tool in the kitchen, especially at this time of year, when bright, fresh flavours are at a premium.