Glossary

Pooling efficiency is the degree to which a lifetime income pool delivers the structural benefit available from mortality pooling, given the pool's size, governance design, and operating costs. Why it matters Different pools deliver different fractions of the theoretical mortality-pooling benefit. A small pool with high operating costs delivers less than a large pool with low costs, even if the underlying mortality assumptions are identical. Pooling efficiency names this compariso

Pooling multiplier is the factor by which the income produced per dollar of premium increases when capital is contributed to a mortality pool rather than self-managed, holding planning horizon and assumed return constant. Why it matters Pooling produces more lifetime income per dollar than self-management, even at theoretical best — that's the core analytical fact about mortality pooling. The pooling multiplier names this benefit directly and quantifies it. Without naming the mult

A premium bonus is an amount credited by the carrier to a deferred annuity contract at issue or on additional premium contributions, expressed as a percentage of the premium and added to the accumulation value, funded structurally through some combination of declared-rate adjustment, surrender-charge schedule extension, and embedded spread. Why it matters A premium bonus increases the accumulation value at issue above the premium paid, which makes the contract's headline starting