21
May
Surrender Charge
Definition
A surrender charge is a fee imposed by the carrier when a contract owner withdraws funds from a deferred
2 min read
Glossary
Glossary definition entries
21
May
Geometric Mean Maximization
21
May
GMAB
21
May
Technological Unemployment
21
May
Group Annuity
21
May
Annual Reset
Definition
Annual reset is the indexed annuity convention under which the index starting value is reset each year, any positive
2 min read
21
May
Withdrawal Fee
Definition
A withdrawal fee is a charge imposed by an insurance carrier on amounts withdrawn from an annuity contract during
3 min read
21
May
Separate Account
Definition
The separate account is the legally segregated pool of carrier assets that holds the investment elements of variable annuity
2 min read
21
May
Longevity Derivatives
21
May
Mortality Yield
21
May
Annuity Puzzle
Definition
The annuity puzzle is the long-standing observation that standard expected-utility theory predicts most retirees should annuitize substantial
3 min read
21
May
Pension
21
May
General Account
Definition
The general account is the pool of an insurer's assets that supports its non-separate-account liabilities,
2 min read
21
May
Advisory Account
Definition
An advisory account is a brokerage or platform account in which the financial professional is compensated through an ongoing
2 min read
21
May
Guaranteed Minimum Income Benefit
Definition
A guaranteed minimum income benefit (GMIB) is a rider attached to a deferred annuity contract that guarantees the contract
2 min read