What is the Definition of Annuity Beneficiary?
In certain types of annuities, a person who receives annuity contract payments if the annuity owner or annuitant dies while payments are still due.
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 Insurance?
What is the Definition of Annuity Beneficiary?
Check out other definition of insurance terms below:
What is the Meaning of NEGLIGENCE In Insurance Terms?
A failure to exercise the legally required degree of care of others, resulting in harm or damage.
What is the Meaning of NET ANNUITY COST In Insurance Terms?
A monetary amount equal to the present value of future periodic payments under an annuity contract, calculated on a net basis, without any specific provision for expense loading. Contrast with Gross annuity cost. (See Annuity cost)
What is the Meaning of NET PAYMENT COST COMPARISON INDEX In Insurance Terms?
A cost comparison index used to compare life insurance policies that takes into account the time value of money and that measures the cost of a policy over a 10or 20-year period assuming the policy owner pays premiums over the entire period. Contrast with Surrender cost comparison index.
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