Glossary

Risk sharing is the structural property of a claim that specifies who bears the longevity risk associated with the claim, with four possible values: none, pooled, transferred, or hybrid. Why it matters The risk-sharing property is the foundational structural fact about any lifetime income arrangement. It determines whether mortality credits exist at all, who captures them when they do, and what it costs to access them. Without naming it explicitly, it is impossible to compare arra

A roll-up rate is the contractually specified annual rate at which the benefit base of a deferred annuity rider increases during a defined accumulation period, separate from and independent of the contract's actual investment performance. Why it matters The roll-up rate is the structural feature that produces guaranteed minimum benefit-base growth in deferred annuity riders, regardless of how the underlying contract's investments perform. It is a primary source of the rider's econ