Bonus credits for annuities

{
  "id": "MLC-T-FIN-000057",
  "term": "Bonus credits for annuities",
  "field": "Finance and investing",
  "term_source": "Bonus Credits for Annuities",
  "definition": "In an attempt to attract purchasers, some insurance companies offer variable annuity contracts with \"bonus credits.\" A bonus credit is the extra amount an insurance company agrees to add to the value of your contract-usually a specified percentage (typically ranging from 1% to 5%) of the payments you make during a certain time period. While bonus credits sound like free money, variable annuities with bonus credits may have higher expenses that offset any gain.",
  "references": [
    "SEC Investor.gov Glossary"
  ],
  "url": "https://mlchart.com/terminology/finance/bonus-credits-for-annuities/"
}