An annuitant is an individual who receives periodic payments from an annuity. The payments may be made for a fixed term or for the annuitant's lifetime.

What is the legal definition of annuitant? An annuitant is an individual in receipt of income from an annuity. An annuity is a financial product that provides a stream of payments in exchange for an initial lump sum investment. The payments can be made in periodic installments or as a lump sum and can continue for the life of the annuity or for a fixed number of years. Who can be an annuitant for an annuity contract? The annuitant for an annuity contract can be an individual or a legal entity, such as a trust or corporation.

#### What is the difference between an annuity owner and annuitant?

An annuity owner is the person who purchases the annuity, and the annuitant is the person whose life expectancy is used to calculate the payouts from the annuity. The annuity owner can be the same person as the annuitant, or they can be two different people. What are the 2 classifications of annuity? There are two major types of annuities: fixed and variable.

A fixed annuity pays a guaranteed rate of interest, while a variable annuity's interest rate varies, depending on the performance of the underlying investment.

Which of the following best describes an annuity? An annuity is a financial product that pays out regular income payments to the investor, typically after retirement. The payments are made until the investor's death, at which point the annuity's principal plus any accumulated interest is paid to the investor's designated beneficiary.