A type of annuity in which periodic payments vary according to income generated by assets in an underlying investment portfolio. Payment amounts may fluctuate because the annuity payments vary based upon the performance of the market.
Varying Income
Income that cannot reasonably be anticipated to be the same amount every month.
VEBA
Voluntary Employees' Beneficiary Association. A mutual association of employees providing certain specified benefits to its members or their beneficiaries. It may be funded by the employees or their employer. Funds in the possession of the VEBA are held in trust for the payment of benefits. Typical benefits are life, sick, accident, and medical benefits. See IRS Voluntary Employees’Beneficiary Association for more information.
Verification
The process and evidence used to establish accuracy or completeness of information from a client, third party, or authorized representative. Verification is also referred to as proof or documentation.
Veterans' Benefits
Benefits and services provided by the U.S. Veterans Administration (VA) to people who have served in the U.S. armed forces and their dependents.
Visa
A document which allows the bearer to apply for entry to the U.S. in a certain classification. It does not grant the bearer the right to enter the United States. The Department of Homeland Security (DHS), Bureau of Customs and Border Protection (BCBP) immigration inspectors determine admission into, length of stay and conditions of stay in, the U.S. at a port of entry. The information on a non-immigrant visa only relates to when an individual may apply for entry into the U.S.
Voluntary Employees' Beneficiary Association (VEBA)
A mutual association of employees providing certain specified benefits to its members or their beneficiaries. It may be funded by the employees or their employer. Funds in the possession of the VEBA are held in trust for the payment of benefits. Typical benefits are life, sick, accident, and medical benefits. See IRS Voluntary Employees’Beneficiary Association for more information.