Defined terms for the annuity market and lifetime income landscape.
A C-share variable annuity is a share class of variable annuity that carries no surrender charge schedule — providing the contract owner with full liquidity from contract issue — in exchange for a higher ongoing mortality and expense charge than the surrender-charge-bearing share classes carry.
A cap rate is the maximum credit that an indexed annuity contract can receive from an underlying index over a specified crediting period, regardless of how much the index actually rises.
