Defined terms for the annuity market and lifetime income landscape.
A charitable gift annuity is a contract between a donor and a qualified charity in which the donor makes a gift to the charity in exchange for the charity's promise to pay the donor (or another designated annuitant) a fixed periodic income for life.
Choice architecture is the deliberate design of the environment in which decisions are presented, including how options are ordered, framed, sequenced, and defaulted, on the recognition that these features shape the decisions people actually make.
Choice overload is the observed phenomenon in which increasing the number or complexity of options in a decision can reduce participation, delay selection, or worsen the quality of the choice ultimately made.
