MLchartDataset catalogue

Deposit administration plan (DAP)

Term · Insurance and risk management · MLC-T-INS-001130

A type of group annuity contract used by employers to fund pension plans, where contributions are accumulated in an unallocated fund held by the insurer. The insurer guarantees a minimum interest rate on the accumulated funds and often guarantees the principal. When an employee retires, funds are withdrawn from the deposit account to purchase an immediate annuity for that individual.

Table 1. Record
IdentifierMLC-T-INS-001130
FieldInsurance and risk management
AbbreviationDAP
Record as JSON 
{
  "id": "MLC-T-INS-001130",
  "term": "Deposit administration plan (DAP)",
  "field": "Insurance and risk management",
  "definition": "A type of group annuity contract used by employers to fund pension plans, where contributions are accumulated in an unallocated fund held by the insurer. The insurer guarantees a minimum interest rate on the accumulated funds and often guarantees the principal. When an employee retires, funds are withdrawn from the deposit account to purchase an immediate annuity for that individual.",
  "abbreviation": "DAP",
  "url": "https://mlchart.com/terminology/insurance/deposit-administration-plan-dap/"
}

Record 944 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.