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Acronyms (P1)




AV  -  ACCOUNT VALUE
The gross value of an annuity, prior to adjustments from any applicable loans, Market Value Adjustments, premium taxes, or Surrender Charges.

BP  - BAILOUT PROVISION
An annuity contract provision that enables the contract owner to surrender the annuity contract, usually without a surrender charge applying, if renewal interest rates or Caps fall below a pre-established level.

CSV  -  CASH SURRENDER VALUE
The amount that an insurance policyholder is entitled to receive should Contact Owner or Annuitant discontinue the coverage.

DB  -  DEATH BENEFIT
The annuity benefits t hat are paid to the beneficiary upon the death of the Contract Owner or Annuitant.

EDB  - ENHANCED DEATH BENEFIT
A provision that provides an annuity Death Benefit that is greater than the full Account Value on the contract.

EWB  -  ENHANCED WITHDRAWAL BENEFIT
The Enhanced Withdrawal Benefit value equals the premium you pay into your annuity, plus a percentage (example 20%) premium bonus and any EWB interest credit. Withdrawals and surrender charges will decrease the EWB by the same proportion they decreases the accumulation value.

EWBC  - ENHANCED WITHDRAWAL BENEFIT INTEREST CREDIT
After the interest rate is determined for the accumulation value in an allocation, the credited rate is multiplied by a percentage (example 105%) to determine the EWB interest credit which is then applied to the Enhanced Withdrawal Benefit.

FAR  - FIXED ACCOUNT RATE
The interest rate declared by the insurance company for an optional crediting method on a Fixed, Indexed, or Variable Annuity; this method performs similarly to a Fixed Annuity.


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