Accumulation Benefits

Accumulation Benefits

An addition to the death benefit of a life insurance policy. See also: Whole life insurance.
References in periodicals archive ?
2) Guaranteed Minimum Accumulation Benefits (GMABs)--guarantee that the owner never receives less than a certain amount of AV at a stated point in the future.
The scope of the survey covered four types of GLBs that are generally offered in the VA marketplace: Guaranteed Minimum Income Benefits (GMIB), Guaranteed Minimum Withdrawal Benefits (GMWB), Guaranteed Lifetime Withdrawal Benefits (GLWB), and Guaranteed Minimum Accumulation Benefits (GMAB).
And on the living-benefit side, despite consumer demand for guaranteed withdrawal benefits, Hegna said he is a big fan of guaranteed-minimum accumulation benefits.
Some, like those with guaranteed minimum accumulation benefits guarantee that the account value will not be lower than the amount invested at some future time.
This virtually erodes the accumulation benefits of tax-deferral.
This feature may be particularly valuable for those who are deliberating between term and permanent life insurance because of its cash value accumulation benefits.
Various combinations of four types of GLBs are generally offered in the VA marketplace: Guaranteed Minimum Income Benefits (GMIB), Guaranteed Minimum Withdrawal Benefits (GMWB), Guaranteed Lifetime Withdrawal Benefits (GLWB) and Guaranteed Minimum Accumulation Benefits (GMAB).
From guaranteed minimum accumulation benefits to expanding existing life products to formerly difficult-to-insure customers, innovation among life and annuity writers is impacting reinsurers.
We believe Sun Life's Income ON Demand(SM) rider is a unique benefit in the annuity and retirement planning industry that will be particularly appealing to Huntington Bank customers looking for improved flexibility with the traditional protection and accumulation benefits of variable annuities.
The industry is only in the beginning stages of developing minimum accumulation benefits and minimum withdrawal benefits.
COLUMBUS, Ohio -- Nationwide Financial today launched a variable universal life (VUL) insurance product designed for individuals who want to insure their family's lifestyle in the event of an unexpected death, while still allowing for some cash accumulation benefits.