Defined terms for the annuity market and lifetime income landscape.
Gompertz law is the empirical regularity, first identified by Benjamin Gompertz in 1825, that adult mortality rates rise approximately exponentially with age across much of the adult lifespan, providing a compact functional form for representing age-specific mortality.
A group annuity contract is an annuity contract issued to an employer, plan sponsor, or other group holder that provides annuity benefits to underlying individual participants under the terms of the group arrangement.
