Accumulaton Phase

1: Accumulation phase refers to the period of time (often several years or even decades) during which an annuitant is making cash contributions to an annuity account. After the accumulation phase ends, the annuitization phase typically begins, whereby the annuity makes payments for a certain period to the investor (often the rest of the annuitant's life).

2:  Building a position in a stock or bond by purchasing the asset over time.