GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Present Value Interest Factor of Annuity


Synonyms:annuity value, current annuity value, current value of an annuity, present annuity value, present value of an annuity
Acronyms &
abbreviations:
PVIFA
Filed Under: annuities, estate-management, financial-banking, investments
Tags: annuity, investment
 

Definition of present value interest factor of annuity (PVIFA)

present value interest factor of annuity (PVIFA)
1. A method used in determining the present value of an annuity or a series of annuities. The present value interest factor of annuity can be used to compare a range of scenarios with different values for interest rates and consecutive dollar withdrawals.

Related Terms and Acronyms:

  • annuity consideration   The payment(s) made by an individual in order to accumulate value in an annuity.
  • annuity factor method   A way of determining the maximum amount an annuitant can withdraw from an annuity before penalties are applied.
  • annuity table   A table that can be used to find the future value of an annuity.
  • commissioners' reserve valuation method   A method used to determine the minimum statutory reserves for annuities and insurance products.
  • future value of an annuity (FVA)   The value of an annuity at some future date.
  • life expectancy method   A method of calculating the appropriate size of payments in an annuity's income phase by estimating the annuitant's life expectancy.
  • maturity guarantee   A guarantee that after a certain date a contract, such as a life insurance policy or annuity, will have a minimum dollar value.

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