Defined terms for the annuity market and lifetime income landscape.
The general account is the pool of an insurer's assets that supports its non-separate-account liabilities, including traditional fixed annuities, immediate annuities, and the fixed components of variable annuities, with the assets owned by the carrier and the contract owner holding a contractual claim against them rather than direct ownership. Why it matters Most US lifetime income products — SPIAs, DIAs, fixed annuities, MYGAs, fixed indexed annuities — are general account produc
