Variable Annuity: A Comprehensive Guide - Part 1 Define Variable Annuity A variable annuity is a contract between policyholder and an insurance company under which the insurer agrees to make periodic payments to you, beginning either immediately or at some future date. You purchase a variable annui...

Life Insurance Actuarial Technical Glossary Gross Premium It is the premium being charged to policyholders Net Premium The portion of the gross premium required to provide for all benefits and claim related expenses Retrospective deposit method Used for Universal Life contracts Accounting methods t...