Deferred Annuity Segment

Deferred Annuity is the base coverage for the Variable Annuity plan.  Add a Deferred Annuity segment to a policy by selecting Add Segments from the Secondary menu.  

Note:  To establish AutoPay, DCA, systematic withdrawals or rebalancing these options must be identified when configuring the Deferred Annuity option.

Note:  DCA and Rebalance cannot both be selected in the Deferred Annuity segment.  Select one or the other.

Variable Annuity Segment Options

Steps to Add a Deferred Annuity Segment

1. Open the policy.

2. Click Segments from the Left Navigation menu.

3. Select Deferred Annuity from the Add Segment drop down box.

4. Enter an effective date.

5. Select the options and enter information for the highlighted fields shown in the image below to use those activities on the policy.

Deferred Annuity Options Highlighted on Segment Screen

6. Scroll to the bottom of the window and select Calculate.  The segment will be added to the segment list at the top of the screen.

7. Select Allocations from the Left Navigation menu.  Establish future allocations or the deferred annuity will not process.

8. Select the number of funds from the Future Allocation section.

9. Click the fund drop down boxes and select the type of fund for the allocations.

10. Click the Equal Percent box to distribute money between an even number of funds or enter the percents manually in the percent boxes.

11. Scroll to the bottom of the screen and select Allocation Save.

Deferred Annuity Segment Field Definitions

Segment Options

• Automatic Payment:  The following are required fields on the Deferred Annuity segment if the AutoPay Program is selected:

1. Start date

2. Frequency

3. Amount
    

• Dollar Cost Average:  The following are required fields on the Deferred Annuity segment if the DCA Program is selected:

1. Start date

2. Frequency:  There are four frequency modes for paying premiums to the company.

• Monthly

• Quarterly

• Semi-Annual

• Annual

3. Amount

4. Transfers remaining

5. Next transfer date

• Systematic Withdrawal:  The following fields are required on the Deferred Annuity segment if Systematic Withdrawal is selected:

1. Start date

2. Frequency:  There are four frequency modes for premium payments.

• Monthly

• Quarterly

• Semi-Annual

• Annual

3. Next date

4. Payment recipient

5. Amount

6. Payment type

• Rebalance:  The following fields are required on the Deferred Annuity segment if the Rebalance Program is selected:

1. Start date

2. Frequency

Once all mandatory fields are entered in the Deferred Annuity segment, click Calculate to process the segment.