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