Defined terms for the annuity market and lifetime income landscape.
Insurer load is the total cost imposed by an insurer on a transferred-risk lifetime income arrangement, expressed as the gap between what the arrangement delivers and what a frictionless pool would deliver from the same premium. Why it matters Every commercial annuity priced by an insurer carries some level of load — there is no insurer load of zero, because real carriers have administrative costs, regulatory capital requirements, profit margins, and reserve buffers. The insurer l
