Guaranteed Living Benefit
Definition
A guaranteed living benefit (GLB) is an umbrella category of riders attached to deferred annuity contracts that provide contractual
Annuity Persistency
Definition
Annuity persistency is the rate at which annuity contracts remain in force over time without being surrendered, lapsed, annuitized
Mortality Credit
Definition
Mortality credits are the additional income that surviving members of a lifetime income arrangement receive because other members of
Mortality and Expense Charge
Definition
A mortality and expense charge (M&E) is the bundled annual fee assessed against a variable annuity contract&
Enhanced Earnings Benefit
Definition
An enhanced earnings benefit is an optional rider on a deferred annuity contract that pays the beneficiary an additional
C-Share Variable Annuity
Definition
A C-share variable annuity is a share class of variable annuity contract that carries no surrender charge schedule
