What does AIR mean? Read on to discover the definition & meaning of the term AIR - to help you better understand the language used in insurance policies.
The assumed interest rate (AIR) is a percentage given to an annuitant that represents the amount they will be getting when their annuity starts to pay them a period income. This rate is combined with other factors, such as the age of the insured upon annuitization and the price of the annuity.
We hope the you have a better understanding of the meaning of AIR.