Defined terms for the annuity market and lifetime income landscape.
A roll-up rate is the contractually specified annual rate at which the benefit base of a deferred annuity rider increases during a defined accumulation period, separate from and independent of the contract's actual investment performance.
Ruin probability is the chance that a process crosses an absorbing barrier — typically zero wealth in financial contexts — within a specified time horizon.
A run-off carrier is an insurance company that has stopped writing new business and is administering its existing book of contracts until those contracts terminate through claims, surrender, death, or other natural expiry, without acquiring new policy obligations.
