The date used in determining the accumulation unit values and the contract value.

The period when an annuity owner can add money and accumulate assets tax-deferred.

The period between the issue date of the contract and the annuity commencement date.

A measure used to determine the value of a contract owner's interest under the contract before annuity payments begin. The contract may have variable accumulation units and fixed accumulation units.

The price per accumulation unit. A new AUV is determined for each Valuation Period after dividends and distributions have been included and daily charges have been subtracted. AUVs are calculated at the close of business of the New York Stock Exchange (NYSE), usually at 4pm ET, each day the NYSE is open for trading.

The person on whose life the annuity payments are based. (This person may or may not be the contract owner.) For certain products, a contingent annuitant may be named as well as a primary annuitant.

To begin receiving annuity payments from an annuity.

A contract sold by an insurance company designed to provide payments to the owner at specified intervals, usually after retirement.

The date on which annuity payments begin.

Periodic payments, either variable or fixed in nature, made by the issuing insurance company at regular intervals after the annuity commencement date.

A simple interest increase selected at the time the annuity is purchased and is only available with the Life Annuity with Guaranteed Period option or the Life Annuity without Guaranteed Period option.  Your financial professional can show you the effects of selecting this benefit using our illustration. All increases applied to your payments are fully taxable and will be reported as such to the IRS.  This feature is not available on all products.

A measure used to determine the amount of any variable annuity payment.

The interest rate used to compute the present value of any remaining unpaid payments on a contract receiving annuity payments.  Also known as Assumed Interest Return.

The interest rate used to compute the present value of any remaining unpaid payments on a contract receiving annuity payments.  Also known as Assumed Interest Rate.

Individual who represents a client and acts on their behalf.

The variable investment options of a variable contract, which have corresponding, diversified open end management investment companies, and the fixed rate option available for allocation of net premium payments and accumulation units.

When allocated to the fixed rate option, the owner may withdraw all of the accumulation value of the Fixed Rate Option or make an unscheduled partial withdrawal without that amount being subject to a contingent deferred sales charge if the current interest rate falls below the bailout rate.

The individual, institution, trustee, or estate eligible to receive the death benefit payable under the annuity contract or life insurance policy.

A firm that acts on behalf of a client.

Each day the New York Stock Exchange is open for business.  The business day usually ends at 4:00 PM Eastern Time but may close earlier due to holidays or special situations.

A statement issued after a transaction to confirm the details of the transaction. Also called a Confirm.

The person named in the application to become the annuitant depending on product rules. Certain rules apply to naming a contingent annuitant, and this feature is not available under all contracts.

A charge imposed for terminating or taking a withdrawal from an annuity contract prior to a given time period as defined by the contract.

An annual maintenance fee; usually $35 (lower where required by state law).  Some contracts allow the waiver of the fee when the accumulation value is $100,000 or higher on the anniversary date.

The person(s) or entity designated as the owner in the contract. The contract owner has the right to make withdrawals, surrender, or change certain terms of the contract (i.e. beneficiary designation).

The value of all the accumulation units in the variable investment options and/or the fixed-rate option credited to a contract.

Amount of after tax money paid to a non qualified annuity. Also known as Principal.

Ownership rights in an annuity contract or a life insurance policy are transferred to an institution, typically a bank, to serve as collateral for a debt. A collateral assignment of a nonqualified annuity is considered a taxable event to the owner of the contract. Because the rules around collateral assignments are complex and the action you will take will depend on your individual circumstances, please consult your tax advisor to see if any additional tax laws apply to your particular situation.

The individual, institution, trustee, or estate eligible to receive the death benefit payable under the annuity contract or life insurance policy in the event that the primary beneficiary dies before the benefit becomes payable.

Insurance intended to pay monthly benefits for up to a specified period when the insured is disabled as defined by the policy. 

Insurance designed to reimburse the policy owner for covered Overhead Expenses incurred in the normal course of business when the insured is disabled.

An investment strategy intended to try to lower your average dollar cost of investing over time. Within a variable annuity, specific amounts of money are transferred from one investment option to another on a monthly basis, rather than investing the total amount at one time. Available under certain variable annuity contracts. Dollar cost averaging does not ensure profit or prevent loss. Since dollar cost averaging involves continuous investing regardless of market fluctuations, the financial ability to make purchases through periods of low price levels should be considered.

The payment made to a beneficiary of an annuity upon the death of the annuitant or owner before the annuity payments begin depending on product rules.

The amount of benefit that will be paid to a beneficiary in the event of the death of an insured person.

The amount of the DIA payment purchased as the result of a DIA transfer.

Transfer of Accumulation Value under the Basic Contract to this rider. DIA Transfers are subject to any requirements and limitations stated in this rider. The initial DIA Transfer is the first transfer under this rider and is the time the Owner chooses the DCD and Annuity Payment Option.

The person(s) named by the Owner to receive DIA Payments. In the absence of a named DIA Payee, the Owner will be the DIA Payee.

An option under which DIA Payments are made in accordance with the provisions of this rider. The list of available options is set forth in the DIA Payment Options provision. The DIA Payment Option is chosen at the time of the initial DIA Transfer request. After the initial DIA Transfer has been processed, and the right to cancel said transfer has expired without exercise, the DIA Payment Option cannot be changed.

For DIA Payment Options that have a guaranteed period, the date on which any guaranteed period will end. While DIA Payments will continue beyond this date if the Annuitant is still living, this date will be the earliest date on which DIA Payments end unless the present value of remaining payments is received by the Beneficiary due to the death of the annuitant. For DIA Payment Options that offer a Refund Certain, this is the date on which the accumulated DIA Payments equals the total of all DIA Transfers. This date may change if the right under the Changing the DIA Commencement Date provision is exercised.

A regularly scheduled payment that is payable to the DIA Payee under the terms of this rider. The amount of this payment is equal to the sum of the DIA Transfer Purchase Amounts.

This is the date chosen by the Owner on which DIA Payments will begin. The DIA Commencement Date (DCD) is elected at the time of the initial DIA Transfer request and cannot be subsequently changed unless the Changing the DIA Commencement Date provision is exercised.