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Glossary

Glossary definition entries
12
Jun

Point-to-Point Crediting

Definition Point-to-point crediting is an indexed annuity calculation method that measures the change in an underlying index between
2 min read
12
Jun

Crediting Spread

Definition A crediting spread is a fixed percentage subtracted from an underlying index's measured gain before the remaining
2 min read
12
Jun

Cap Rate

Definition A cap rate is the maximum credit that an indexed annuity contract can receive from an underlying index over
2 min read
12
Jun

Installment Refund Annuity

Definition An installment refund annuity is a payout structure in which the insurer makes scheduled income payments for the lifetime
2 min read
12
Jun

Cash Refund Annuity

Definition A cash refund annuity is a payout structure in which the insurer makes scheduled income payments for the lifetime
2 min read
12
Jun

Joint and Survivor Annuity

Definition A joint and survivor annuity is a payout structure in which the insurer makes scheduled income payments for the
2 min read
12
Jun

Life-Only Annuity

Definition A life-only annuity is a payout structure in which the insurer makes scheduled income payments for the lifetime
2 min read
12
Jun

Period Certain Annuity

Definition A period certain annuity is an arrangement under which the insurer makes scheduled income payments for a contractually specified
2 min read
12
Jun

Registered Indexed-Linked Annuity

Definition A registered index-linked annuity (RILA) is a deferred annuity in which the crediting rate is linked to the
2 min read
12
Jun

Multi-Year Guaranteed Annuity

Definition A multi-year guaranteed annuity (MYGA) is a deferred fixed annuity in which the insurer guarantees a fixed crediting
2 min read
12
Jun

Qualified Longevity Annuity Contract

Definition A qualified longevity annuity contract (QLAC) is a deferred income annuity purchased inside a qualified retirement account that meets
2 min read
12
Jun

Deferred Income Annuity

Definition A deferred income annuity (DIA) is a lifetime income arrangement in which the contract owner pays a premium to
2 min read
12
Jun

Ergodicity

Definition Ergodicity is the property of a system in which the average outcome experienced by a single participant over time
2 min read
12
Jun

Pooling Efficiency

Definition Pooling efficiency is the degree to which a lifetime income pool delivers the structural benefit available from mortality pooling,
2 min read
12
Jun

Pool Governance

Definition Pool governance is the set of rules, decision rights, and structural features that determine how a lifetime income pool
2 min read