annuitant

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  • noun

Words related to annuitant

the recipient of an annuity

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References in periodicals archive ?
1: What happens to the money paid to the insurance company when the annuitant dies?
Possibly potential annuitants are aware of this without appreciating the insurance which is offered.
An annuity contract generally provides that if the annuitant dies before the annuity starting date, the beneficiary will be paid, as a death benefit, the greater of the amount of premiums paid or the accumulated value of the contract (although some contracts may provide additional "enhanced" death benefits as well).
More than 1,800 annuitants are in the program, and 1,200 of them are employed.
A buy-in is similar in that it is an insurance product that covers all asset and liability risk for annuitants covered.
Both structured settlement annuitants and lottery annuitants experience unique financial demands, which must be handled on a case by case basis.
Standard annuitants with no medical conditions had an average pension pot of PS17,000 and enhanced annuitants had a typical fund of PS26,800.
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.
Rising life expectancy is another factor and annuity providers are compensating for having to pay annuitants for longer by paying a lower level of income.
The Government will make flat-rate lump sum payments to living, with-profits annuitants who bought their annuity from Equitable Life Assurance Society before September 1 1992.
The comprehensive Executive Life of New York (ELNY) liquidation plan involving the capacity a majority state guaranty funds, top regulators in multiple states, millions upon millions in life insurance company coffers, and thousands of waiting policyholders has cleared a major obstacle with the dismissal of the appeal by a group of annuitants claiming the liquidation plan was unfair and they were denied due process.
* Under the special rule of IRC Section 72(s)(6), for entities owning annuity contracts, the adult children (annuitants) are defined as the holders of each contract for purposes of distribution at death.
The company serves nearly 3.7 million participants and annuitants.
We are also being told that annuitants (also known as double-dippers), who have been building their little empire [in the] full-time reserve army, will be put on a tighter leash for full-time contracts.