An accounting measure upon which the size of periodic annuity payouts is based.
A share in an insurer's variable subaccounts that determines the size of an annuitant's benefit payments during the payout period of a variable deferred annuity. See accumulation unit, payout period, and subaccount.
The measurement used in determining the amount of any variable annuity payment. The value of an annuity unit for each subaccount will depend upon the assumed investment rate and the investment experience of that subaccount, and will vary in dollar amount.
A share of a variable annuity paid to an annuitant in the form of an income payment.
The number of annuity units denotes the share of funds an annuitant will receive from a variable annuity account after the accumulation period ends and benefits begin. A formula is used to convert accumulation units to annuity units.
An accounting procedure used to calculate the amount of each payment an annuitant should receive during the payout period.
The accounting measure used to determine the amount of each payment to an annuitant during the payout period.
A variable annuity unit held during the variable annuity payout period.
A term used to describe units of a variable annuity once distribution has begun.
An accounting unit of measure used to calculate the value of Annuity payments.