- Cash value
- The policy value that may be available through surrender, withdrawal, or other policy actions, subject to policy terms.
- Total cash value
- A broader cash value view that may include guaranteed and non-guaranteed components shown in an illustration.
- Dividend fulfillment ratio
- A historical ratio comparing actual declared non-guaranteed benefits with previously illustrated values.
- Issue year
- The year or version period in which a product illustration or policy cohort is issued.
- Policy year
- The policy duration year used to compare values over time, such as year 5, year 10, or year 20.
- Non-guaranteed benefit
- A value that may be declared by an insurer but is not contractually guaranteed.