What is the Definition of Annuity Certain?

What is the Definition of Annuity Certain?

A type of annuity contract that pays periodic income benefits for a stated period of time, regardless of whether the annuitant lives or dies. Also known as period certain annuity. Contrast with Straight life annuity. (See Payout options)

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 Certain?

What is the Definition of Annuity Certain?

Check out other definition of insurance terms below:


What is the Meaning of MUTUAL INSURANCE COMPANY In Insurance Terms?

A company owned by its policyholders that returns part of its profits to the policyholders as dividends. The insurer uses the rest as a surplus cushion in case of large and unexpected losses.


What is the Meaning of NAMED PERIL In Insurance Terms?

Peril specifically mentioned as covered in an insurance policy.


What is the Meaning of NATIONAL FLOOD INSURANCE PROGRAM In Insurance Terms?

Federal government-sponsored program under which flood insurance is sold to homeowners and businesses. (See Adverse selection; Flood insurance)


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