Annuitant
Annuitant
Annuitant (/əˈnjuːɪtənt/) is a term used in the financial and insurance sectors to refer to an individual who is entitled to receive benefits from an annuity. The annuitant is typically the person who has purchased the annuity and is the one who will receive the payments from it.
Etymology
The term "annuitant" is derived from the Latin word "annuitas", which means "yearly". It was first used in the English language in the 18th century to refer to a person who receives a fixed annual income from an investment.
Related Terms
- Annuity: A financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees.
- Beneficiary: A person who derives advantage from something, especially a trust, will, or life insurance policy.
- Life Annuity: A financial product that features a predetermined periodic payout amount until the death of the annuitant.
- Joint Life Annuity: An annuity that pays an income for the life of two or more annuitants, typically used by married couples.
- Deferred Annuity: An annuity that begins payments at a future date rather than immediately upon annuitization.
- Immediate Annuity: An annuity that begins payments immediately upon investment.
External links
- Medical encyclopedia article on Annuitant
- Wikipedia's article - Annuitant
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