IRDAI

Taj Mahal, India

The Insurance Regulatory and Development Authority of India is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India. Following the recommendations of the Malhotra Committee, in 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April … Read more IRDAI

Private Annuity

A private annuity is an arrangement in which the client transfers property to an individual or entity in return for a promise of fixed periodic payments for the rest of the client’s life. In private annuities, the person or entity assuming the payment obligation is not in the business of selling annuities.

Systematic Withdrawal Plan

A distribution method that allows a variable annuity contract owner to periodically receive a specified amount as a partial withdrawal from the annuity contract value prior to the annuity starting date. Unlike lifetime annuity payments, systematic withdrawals continue until the contract value is exhausted. Systematic withdrawals are taxable to the extent they represent investment gain … Read more Systematic Withdrawal Plan

Wrap-fee

A comprehensive charge levied by an investment manager or investment advisor to a client for providing a bundle of services, such as investment advice, investment research and brokerage services. Wrap fees allow an investment advisor to charge one straightforward fee to their clients, simplifying the process for both the advisor and the customer.