Definition of "Accumulation Period"

A period of consecutive months that begins on the first day of disability and during which the elimination period must be satisfied.

Also called the growth period. The time between the purchase and the payout period of a deferred annuity. The annuity earns interest during this time.

The time between the purchase and pay out period of a deferred annuity. Also called Growth Period. The time prior to an annuity?s payout period when money builds up in the annuity contract.