What does Annuity Unit mean? Read on to discover the definition & meaning of the term Annuity Unit - to help you better understand the language used in insurance policies.
The number of annuity units denotes the share of the 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.
We hope the you have a better understanding of the meaning of Annuity Unit.