Account Value
Definition
The account value is the contractually defined current value of a deferred annuity, used as the reference for surrender,
Accumulation Value
Definition
The accumulation value is the contractually defined value of a deferred annuity at any point during the accumulation phase,
Risk Sharing
Definition
Risk sharing is the structural property of a claim that specifies who bears the longevity risk associated with the
Variable Annuity
Definition
A variable annuity is an insurance contract under which the contract owner allocates premium to subaccounts holding investment options