Suitability
Definition
The suitability standard is a regulatory standard of care requiring that a recommended financial product be suitable for the
Subaccount
Definition
A subaccount is an investment option within a variable annuity contract, structurally analogous to a mutual fund, in which
Single Premium Immediate Annuity
Definition
A single premium immediate annuity (SPIA) is a lifetime income arrangement in which the contract owner pays a one-
Sequence of Returns Risk
Definition
Sequence of returns risk is the risk that the order in which investment returns occur — independent of the average