What is the Definition of Annuity Contract Owner?

What is the Definition of Annuity Contract Owner?

The person or entity that purchases an annuity and has all rights to the contract. Usually, but not always, the annuitant (the person who receives incomes from the contract).

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 Contract Owner?

What is the Definition of Annuity Contract Owner?

Check out other definition of insurance terms below:

What is the Meaning of MORTGAGE INSURANCE In Insurance Terms?

A form of decreasing term insurance that covers the life of a person taking out a mortgage. Death benefits provide for payment of the outstanding balance of the loan. Coverage is in decreasing term insurance, so the amount of coverage decreases as the debt decreases. A variant, mortgage unemployment insurance pays  the mortgage of a policyholder who becomes involuntarily unemployed. (See Term insurance)

What is the Meaning of MORTGAGE-BACKED SECURITIES In Insurance Terms?

Investment grade securities backed by a pool of mortgages. The issuer uses the cash flow from mortgages to pay interest on the bonds.

What is the Meaning of MULTIPLE PERIL POLICY In Insurance Terms?

A package policy, such as a homeowners or business insurance policy, that provides coverage against several different perils. It also refers to the combination of property and liability coverage in one policy. In the early days of insurance, coverages for property damage and liability were purchased separately.

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