Typically abbreviated, this is the title commonly used to identify the contract. This name often includes the name of the offering insurance company.
Benefits
The contract name identifies the particular contract that an individual buys. There are some contract's within the same family that have very similar names.
Origin
This information is taken from the insurance contract's prospectus.
For the Pros
About Retirement Plans
Some policies are only open to individuals and participants in a certain type of group retirement plan. If this is the case, the account will be described as being solely available to either qualified (denoted with a Q) retirement plans or non-qualified (denoted with a NQ) retirement programs. If neither of these options is noted, then the contract is open to both, as are the majority of accounts.