annuitant


Also found in: Dictionary, Thesaurus, Financial, Wikipedia.

annuitant

a person who receives an ANNUITY.
References in periodicals archive ?
As for the second statute, Finkle wrote that although there was no Rhode Island case law or legislative commentary addressing RIGL 27-4-12's application, "the statute's plain and unambiguous language shows the legislature's intent to protect annuity proceeds and payments from improvident actions by beneficiaries" and does not extend to an annuity owner or annuitant.
In the pension risk transfer industry, Metropolitan Life manages pension payments for more than 600,000 annuitants.
If a person purchases an annuity and gives the contract to another person at a later date after the annuity starting date (i.e., once annuity payments have begun), the gift tax value is the single premium the company would charge for an annuity providing payments of the same amount on the life of a person who is the annuitant's age at the time of the gift.
The remaining consideration (premium) paid for the annuity that has not been distributed (including accrued interest) is fully earned by the insurer immediately upon the death of the annuitant. This is why annuities payable for the life or lives of one or more annuitants frequently include a minimum payment guarantee.
This adjustment is just sufficient for the consumer to expect the same lifetime welfare as an annuitant who invests the same sum at age 65 in context of a zero real rate of return.
Ainslie (2000) reports that in the United Kingdom in the 1990s, the vast majority of annuities, including all of the ones sold by the company that provided data for this study, were priced solely on the basis of the annuitant's gender and age at the time of purchase.
Now Pensions Minister Steve Webb says that annuitants should be able to 'unwind' their contracts.
Typically, from initial contact, representatives will confirm that a client is a qualified annuitant or recipient of a payment stream, and then get to know the financial needs of the customer and walk them through their options with no monetary obligation.
After retirement, when the annuitant dies, the surviving spouse only gets half of the member's pension.
Single Life Annuity for life - A fixed amount, guaranteed at the policy inception, will be paid to the annuitant throughout his/her life
While exchanging a product for another with a higher rate may be desirable to one annuitant in one year, it may not be a good idea for a different annuitant.
If we take the example of a PS100,000 pension pot being used to purchase PS5,000 of annual income, the annuitant must survive for twenty years to break even.