R. 69O-148.001 Funding of Preneed Contracts With Life Insurance or Annuities
contract signature

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Terms Used In Florida Regulations > Chapter 69O-148 - Funding of Preneed Contracts With Life Insurance or Annuities

  • 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.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Statute: A law passed by a legislature.