Oracle and SPL have complementary products with a shared focus that information and adaptive business processes are keys to achieving corporate revenue and profitability goals. Oracle plans to accelerate the pace of innovation and integration of SPL's products. The strengths of SPL's solutions for utilities are planned to be combined with Oracle's industries leading database middleware, and enterprise applications. 1  Oracle Buys SPL.  Oracle Utilities Customer Care and Billing.
Variable Annuity Surrender Charges. A surrender charge is a type of sales charge you must pay if you sell or withdraw money from a variable annuity during the surrender period-a set period of time that typically lasts six to eight years after you purchase the annuity. Surrender charges will reduce the value of-and the return on-your investment.
1 In general, these fees in a variable annuity will be charged as a percentage of the average value of the investment and will probably be quoted in terms of basis points.. 2  A basis point is 1/100th of 1%.3  Thus, an M&E charge of 115 basis points means a fee of 1.15% will be assessed against the value of the investment. The first fee typically imposed by an annuity will be what's known in the industry as a mortality and expense (M&E) charge. 2  This fee pays for the insurance guarantee, commissions, selling, and administrative expenses of the contract.