What is the definition of Annuitant?

An Annuitant is the beneficiary of the annuity contract. In most cases, he receives the annuity payments related to that annuity. The life-insurance policy included in the annuity covers his life and its premiums. Other insurance-related details are based on his life as well.  Simply put, the annuitant is considered the beneficiary of a specific annuity. The regular payment he stands to receive is part of a contract and based on the agreement. The benefits the annuitant receives will either be for an indefinite period of time or for a specified period of time.

There will also be times when the annuity owner is not the same as the one receiving the annuity. The annuity owner has the option to annuitize the purchases an annuity and has all rights to the contract.

• Businessowners Policy / BOP
• Competitive State Fund
• Excess and Surplus Lines
• Employer’s Liability
• Blanket Insurance