JOINT LIFE WITH LAST SURVIVOR ANNUITY
A life annuity or insurance product that provides income to the annuitant, the annuitant and his/her spouse or the annuitant and another beneficiary until both spouse have died. The annuity holder, not term certain, has the option to give a part of the remaining income to a third-party beneficiary. Should the holder mention no beneficiary, it will be given to the estate.
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Robert C. Merton
American economist who won the 1997 Nobel Memorial prize in Economic Sciences, along with Myron Scholes, for developing the Black-Sholes model, whi ...
Buy Stops Above
Recommendation to purchase a given security once a security’s price surpasses a particular resistance level by putting a buy stop order at th ...
Admitted Company
An insurance company admitted and allowed by an another state to transact insurance business despite having a domiciled status on an another state. ...
Black Box Model
Computer program, process, or system processing the information entered by the user using pre-programmed logic in order to produce the user’s ...
Form 3903
A form issued by the IRS and used by taxpayers to deduct moving expenses related to taking a new job.
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