This weekend I visited my family back in Cincinnati and got to meet my Dadâs new iPad for the first time. I donât have enough money for this fancy technology so Iâve never really used an iPad before.
Deferred Annuities. A deferred annuity grows tax deferred until the contract is annuitized (put into a payment stream) or surrendered (paid out as a lump sum). This type of annuity is a vehicle for accumulating savings for a future goal, such as retirement, and eventually distributing the value.
For universal life and deferred annuity contracts, such costs are amortized in proportion to estimated gross. profits over the effective life of those contracts. Changes in assumptions for all policies and contracts are reflected. as retroactive adjustments in the current yearâs amortization.