Type of unit in a unit trust where the income is reinvested automatically, thereby increasing the price of the unit.
A unit of measurement that represents an ownership share in a selected subaccount of a variable deferred annuity during its accumulation period. After the accumulation period ends, the accumulation units are used to buy annuity units. See also accumulation period and annuity units.
A single unit of a unit trust (or mutual fund) where the income from the underlying investments is rolled up and reflected in the unit price.
A measure of your ownership interest in a subaccount the prior to the Annuity Date or surrender of the Contract. The value of the unit reflects the investment experience similar to that of a share owned in a mutual fund.
Money paid in or transferred into an investment division of the Separate Account is credited in the form of accumulation units. Any increase or decrease in value is based upon the investment performance of the corresponding underlying investment portfolio.
The premiums an annuitant pays into a variable annuity are credited as accumulation units. At the end of the accumulation period, accumulation units are converted to annuity units.
a share of participation in a TIAA-CREF variable account that is in the accumulating phase. Each variable account has its own distinct accumulation unit value. Premiums paid to a variable account purchase accumulation units at the current unit value of the account. The number of accumulation units owned times the current value of the unit equals the current value of the account.
Money deposited into or transferred into an investment division of the separate account and then credited to the annuitant in the form of units. Note: This applies to variable annuities only as there is no separate account in a fixed annuity.
A share of participation in a variable annuity.
An accounting measure that represents a contract owner's proportionate uit of interest in a separate account during the accumulation period of a variable annuity.
A unit of measurement used in determining the value of a variable annuity contract before the effective date of a payment plan.
A unit in a linked life assurance where the dividends or interest are not paid out but are added to the capital value.
A share of a variable annuity fund, the value of which is calculated to be the value of the entire fund divided by the number of accumulation units. The term is generally used during the accumulation phase of the annuity. See Annuity Unit.
The basic valuation unit of the deferred variable annuity. Such units are valued daily to reflect investment performance and the prorated daily deduction for expenses, including management fee.