Terms Used In Indiana Code 27-4-9-2

  • 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.
   Sec. 2. As used in this chapter, “consumer” means an individual who receives a recommendation to purchase or exchange an annuity that results in the recommended purchase or exchange.

As added by P.L.138-2005, SEC.2. Amended by P.L.131-2007, SEC.2.