Defined terms for the annuity market and lifetime income landscape.
A structured annuity is a deferred annuity that credits returns according to a defined payoff structure linked to a specified index or reference asset, incorporating designed downside protection features and typically registered as a security.
A subaccount is an investment option within a variable annuity contract, structurally analogous to a mutual fund, in which contract owner premiums are invested and from which the contract's accumulation value derives, with investment risk borne by the contract owner rather than by the carrier.
