What is the Definition of Life Annuity With Period Certain?

What is the Definition of Life Annuity With Period Certain?

A type of annuity contract that guarantees periodic income payments throughout the lifetime of a named individual—the annuitant—and guarantees that the  payments will continue for at least a specified period. If the annuitant dies before the end of that specified period, the payments will continue to be paid until the end of the period to a beneficiary designated by the annuitant. (See Life annuity)

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Life Annuity With Period Certain?

What is the Definition of Life Annuity With Period Certain?

You can find random definition and meaning of insurance terms below:


Meaning of Dividends in Insurance Terms

Money returned to policyholders from an insurance company’s earnings. Considered a partial premium refund rather than a taxable distribution, reflecting the difference between the premium charged and actual losses. Many life insurance policies and some property/casualty policies pay dividends to their owners. Life insurance policies that pay dividends are called participating policies.


Meaning of Domestic Insurance Company in Insurance Terms

Term used by a state to refer to any company incorporated there.


Meaning of Double Indemnity Benefit in Insurance Terms

An accidental death benefit that is equal to the face amount of a life insurance policy’s basic death benefit and is paid when the insured’s death is the result of an accident as defined in the policy. (See Accidental death benefit/ADB)


Thank you for visiting our website and read this FAQ article about "What is the Definition of Life Annuity With Period Certain?". We hope you get what you searching for.

definitionly.com is a website that contains information about the definition or meaning of a word. You can search for the terms you are looking for in the search field above.

Related Posts

Subscribe Our Newsletter