EQUITY INDEXED ANNUITY: Insurance Glossary Dictionary IV - EQUITY INDEXED ANNUITY

Definition of EQUITY INDEXED ANNUITY:

EQUITY INDEXED ANNUITY: Nontraditional fixed annuity. The specified rate of interest guarantees a fixed minimum rate of interest like traditional fixed annuities. At the same time, additional interest may be credited to policy values based upon positive changes, if any, in an established index such as the S&P 500. The amount of additional interest depends upon the particular design of the policy. They are sold by licensed insurance agents and regulated by state insurance departments.

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The meaning of EQUITY INDEXED ANNUITY is an excerpt from Insurance Information Institute:

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