Glossary

Valuation
With respect to life insurance, the act of calculating a policy's reserve. Also, the process of determining the value of a business or an estate.

Value as of
In Account Summary, the values shown here reflect transactions processed up to, but may not include, the "as of" date noted for your policy and/or account. Current values may vary or may not be calculable due to unprocessed transactions through the noted "as of" date.

Variable Annuity
(See "Annuity, Variable.")

Variable Life Insurance
A form of whole life insurance that combines the premium and death benefit flexibility of universal life insurance with the investment flexibility and risk of variable life insurance.

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