The Nevada Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York is a legally binding contract that outlines the terms and conditions of the participation of Lincoln Life and Annuity Company of New York (LACEY) in the Variable Insurance Products Fund, III (VIP III) in the state of Nevada. This agreement enables LACEY to offer variable annuity products to its customers and participate in the investment gains and losses of the VIP III. It provides a framework for the collaboration between these two entities, ensuring compliance with regulatory requirements and establishing the rights and responsibilities of each party involved. Key provisions of the Nevada Participation Agreement include the allocation of investment funds, performance objectives, reporting and disclosure requirements, fees, and termination provisions. The agreement aims to protect the interests of the policyholders and ensure that all parties involved operate within the guidelines set forth by the Nevada Department of Insurance. There may be different types of Nevada Participation Agreements between VIP III and LACEY, depending on the specific variable annuity products being offered and the investment strategies employed. These agreements may vary in terms of risk tolerance, investment options, and fee structures, tailored to meet the needs of different policyholders. By entering into the Nevada Participation Agreement, LACEY gains access to a diversified investment portfolio managed by VIP III, which may include a range of asset classes such as stocks, bonds, and mutual funds. This allows LACEY to offer its customers the potential for growth and income while providing flexibility in designing variable annuity products to meet individual investment objectives. In conclusion, the Nevada Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York is a comprehensive contract that governs the relationship between these entities in offering variable annuity products. It serves to protect the interests of policyholders, set investment objectives, and establish the terms and conditions of participation in the VIP III.
Nevada Participation Agreement between Variable Insurance Products Fund, III, Lincoln Life and Annuity Company of New York
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These ratings tell you how financially stable the provider is, giving you confidence in the company's ability to fulfill its end of the annuity contract. Lincoln Financial Group holds high credit ratings from the four major credit rating agencies.
The value of a variable annuity is based on the performance of an underlying portfolio of sub accounts selected by the annuity owner. Fixed annuities, on the other hand, provide a guaranteed return.
A variable annuity is a contract between you and an insurance company, under which the insurer agrees to make periodic pay- ments to you, beginning either immediately or at some future date. You purchase a variable annuity contract by making either a single purchase payment or a series of purchase payments.
A variable annuity is a contract between you and an insurance company. With a variable annuity, the insurance company agrees to make periodic payments to you in the future. You can purchase a variable annuity contract by making either a single purchase payment or a series of purchase payments.
Variable annuities are essentially an insurance contract combined with an investment product. Through a professionally managed "subaccount" (similar to a mutual fund portfolio) within your variable annuity, you invest in stocks, bonds or money market funds or a combination thereof.
While all annuities are regulated by state insurance commissioners, variable annuities and RILAs are securities and therefore are also regulated by the SEC and FINRA. Annuities are often products investors consider when they plan for retirement. They're often marketed as tax-deferred savings products.
Beneficiaries?With an annuity, you (and in some cases your spouse) are the primary beneficiary, so you receive all income payments. With life insurance, your spouse, your children, or your other designated heirs are the primary beneficiaries, so they will receive the death benefit after you pass away.
Is an annuity a life insurance policy? No, an annuity is an investment product you purchase all at once that earns interest and, after a set time frame or when certain conditions are met, starts paying out. It may be offered by life insurance companies, but it's not technically a life insurance policy.