Accumulation Period

This is the time between the first premium payment and the first payout of benefit under a deferred annuity.

Accumulation period can also refer to a specified period of time, usually 90 days, during which the insured person must incur eligible medical expenses at least equal in amount to the deductible amount in order to establish a benefit period under a comprehensive medical expense or major medical expense policy.

The accumulation units are the mechanism used to keep track of the deposits in a variable annuity contract during the period of paying premiums. The number of units you purchase depends on the current dollar value of a unit.

Sit down with your advisor whether an agent, broker or accountant and be sure you understand your policy. When you look at the "whole picture" you may find that one or more of your policies will conflict with another. This is why people often seek the advice of a financial planner.