Life Act
Categories: Legal,
The common name for the Legal Immigration Family Equity Act, signed into law by President Clinton in 2000. The Act included many changes to the immigration laws, including an extension of Section 245(i) (allowing certain categories of green card applicants who wouldn't otherwise be eligible to adjust status in the United States to do so by paying a penalty fee); a new K-3 visa category allowing married people to use a version of the existing "fiancé visa" to enter the United States in order to apply for adjustment of status (rather than completing the entire permanent residence application overseas); and a new V visa category for spouses and children of lawful permanent residents who had filed an immigrant visa petition on or before December 21, 2000 but who after three years were still waiting for petition approval or for their priority date to become current and a visa to become available.
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Definition / Meaning of
Separate Account Fund
Categories: Finance,
Each variable annuity contract offers a number of separate account funds. Each of those funds owns a collection of individual investments chosen by a professional manager who is striving to achieve a particular objective, such as long-term growth or regular income.You allocate your variable annuity premiums among different separate account funds offered in your contract to create a diversified portfolio of funds, sometimes called investment portfolios or subaccounts.If you're comparing different contracts to decide which to purchase, among the factors to consider are the variety of funds each contract offers, the past performance of those funds, the experience of the professional manager, and the fees.In evaluating the past performance and other details of the funds a contract offers, or the funds you are using in the contract you selected, you can use the prospectus the annuity company provides for each separate account fund. You may be able to find independent research on the funds from firms such as morningstar, inc., Standard & Poor's, and Lipper.
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