Defined terms for the annuity market and lifetime income landscape.
Co-fiduciary liability is the ERISA provision under which one plan fiduciary can be held personally liable for another fiduciary's breach where the co-fiduciary participated in, enabled, or failed to remedy the breach.
Cognitive decline risk is the risk of progressive cognitive impairment with age, ranging from normal age-related cognitive change through mild cognitive impairment to dementia, including Alzheimer's disease and related dementias.
A cohort effect is a systematic difference in mortality or health experience between successive birth cohorts that persists across the lifespan, distinct from differences associated with age or with calendar period alone.
A cohort life table is a mortality table constructed by following an actual birth cohort across its lifetime, recording the mortality experience that the cohort itself realized at each age it passed through.
Coinsurance, in the reinsurance context, is a full-risk-transfer structure in which the reinsurer assumes a defined share of the policies in a block as if it had written them, taking a corresponding share of premium, claims, reserves, and supporting assets.
