Defined terms for the annuity market and lifetime income landscape.
The distribution phase is the period of an annuity contract during which the contract pays income to the contract owner under the elected payout structure, beginning at annuitization or at the contract's specified income commencement date and continuing until the contract's payment obligations terminate. Why it matters The distribution phase is the period in which a lifetime income arrangement actually functions as lifetime income. Naming it directly distinguishes it from the accu
