Examlex
Instructions: Identify the terms and briefly state their historical significance.
San Lorenzo and La Venta
IRA
Individual Retirement Account, a saving tool for individuals to allocate funds for retirement, offering tax advantages.
Single Life Annuity Contract
An insurance product that provides a stream of payments for the life of a single individual, ceasing upon their death.
Expected Return
The anticipated average return on an investment over a specific period based on historical data and market analysis.
Exclusion Ratio
In annuities, the proportion of payments considered as a return of the original investment and therefore not subject to income tax.
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