Life · Chapter 9 · Fixed, Variable & Indexed
Market Value-Adjusted (Modified Guaranteed) Annuity
Definition
A single-premium deferred annuity that locks in a guaranteed rate for a set maturity period (typically 2–10 years) but shifts SOME (not all) investment risk to the owner: surrender early and the value is adjusted for current market interest rates (like bond prices — rates fall, value rises) PLUS a surrender charge.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
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