Death Benefit

The payment amount available to a beneficiary when the owner dies. 

Deferral Period

The period of time when you are accumulating interest in your annuity before you begin taking payments. 

Deferred Annuity

An annuity that accumulates interest, with the distribution of the annuity delayed until a future date. Depending on the type of deferred annuity, the payments could begin after a set period of time or after the death of the annuity owner. 

Delayed Retirement Credit

A monthly credit applied to a social security retirement benefit for each month beyond full retirement age that the benefit is claimed.  Delayed retirement credits stop at age 70, even if the benefit is claimed beyond this age.