What is the definition of Annuity Certain?

An Annuity Certain refers to the type of contract that provides regular payments whether or not the annuitant is alive or dead at the time. The number of payments has already been fixed upon at the beginning of the contract and this period of time will be followed.

The annuity certain also pays out a specified monthly payment amount, again, for a specified time period. Thus, the payments are guaranteed by the insurance company. When the annuitant dies before the specified time is over, the annuity beneficiaries will be the ones who will receive the payments.

This is also called a life annuity certain and continuous or a life annuity certain.

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