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Whipsaw Glossary

Currently viewing the definition of: Wholesale Deposit
 
 
 A large deposit obtained by a bank or other financial institution. 
 


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    • Joint Life Annuity
      A person who receives an annuity is called the annuitant. The annuitant pays a lump sum to the life insurance company in return for a regular income. If this money is from the annuitant's own funds, it is called a purchase life annuity. If the money is from a maturing pension fund, it is called a compulsory purchase annuity. A joint life annuity continues to be paid until both parties have died. This may be at the full rate, or more likely at a rate of 50% after the fist party has died.