Defined terms for the annuity market and lifetime income landscape.
A benefit base is the contractually defined value that a rider attached to a deferred annuity contract uses to calculate guaranteed benefits, operating separately from the contract's account value and following its own contractually specified rules for growth, step-ups, ratchets, and withdrawal effects. Why it matters The benefit base is the central structural mechanism through which deferred annuity riders deliver guaranteed values that are independent of the contract's actual in
