New Mexico Statutes 59A-7-2. Life and annuity
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Life and annuity includes: A. fixed annuity;
Terms Used In New Mexico Statutes 59A-7-2
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
B. immediate annuity; C. deferred annuity;
D. equity-indexed annuity; E. endowment;
F. term life;
G. universal life; H. whole life;
I. credit life; and
J. similar products relating to life and annuity matters.