annuitant


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  • noun

Words related to annuitant

the recipient of an annuity

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References in periodicals archive ?
But Oakton's decision not to employ SURS annuitants does not directly affect plaintiffs' ability to continue to collect their full annuity -- which is what the Illinois Constitution protects -- and plaintiffs identify no SURS provision that would entitle them to simultaneously receive an annuity and engage in post-retirement employment.
If an annuitant dies before having recovered the full amount guaranteed under a refund or period-certain life annuity, the balance of the guaranteed amount is not taxable income to the refund beneficiary--until the total amount received tax-free by the annuitant plus the total amount received tax-free by the beneficiary equals the investment in the contract.
Annuities have proven to be an unpopular investment; nominal annuities have historically been better value than index-linked annuities, but only the latter can offer a stable consumption path for the remaining lifetime of an annuitant.
The mortality experience of the single life annuitant provides a convenient ex post measure of risk type; measuring the risk type of a joint life policy that insures multiple lives is less straightforward.
com)-- Secure Horizon Settlements, LLC (SHS), a forward-looking and trustworthy financial services company, recently upgraded their funding process to better accommodate annuitants looking to convert their settlement payment into an immediate lump sum of cash.
In fact, the expenses do not change that much once the annuitant member dies.
Joint Life Annuity for life (without any death benefit) - A fixed amount, guaranteed at the policy inception, will be paid as long as at least one of the annuitants is alive.
6, that the objecting annuitants were not denied due process, as contended, and there was no merit to the contention of plaintiffs that the Supreme Court lacked subject matter jurisdiction to include provisions which granted the receiver for ELNY judicial immunity and preliminary injunctive relief.
If one buys a joint and survivor immediate annuity, payments will continue for the remaining life of the surviving annuitant at the death of the other annuitant.
As legal owner of the contract, the trustee has all the usual contractual rights, including the right to make withdrawals, transfer ownership, surrender the contract, or do a Section 1035 exchange of the contract for another annuity while the annuitant is alive.
If the death benefit is payable to a named beneficiary and annuitant purchased the contract (after March 3, 1931), the value of the death benefit is generally includable in his gross estate under IRC Section 2039--whether or not the right was reserved to change the beneficiary.
For the annuitant who lives to retirement, the annuity can provide a guaranteed income for life.
Under the annuity contract, the owner names the individual who will serve as the annuitant, names the individual or entity who will be the beneficiary under the contract, determines when the contract will be annuitized, and has the power to make partial withdrawals from the contract or fully surrender the contract for its cash value.
offers a single-premium product that provides a legacy for a second person without the need for the first annuitant to accept smaller payments.