from The American Heritage® Dictionary of the English Language, 4th Edition
- n. One that receives or is qualified to receive an annuity.
- n. An officially retired U.S. intelligence officer who is actually still on the government's payroll and is available for assignments.
from Wiktionary, Creative Commons Attribution/Share-Alike License
- n. The recipient of an annuity.
from the GNU version of the Collaborative International Dictionary of English
- n. One who receives, or its entitled to receive, an annuity.
from The Century Dictionary and Cyclopedia
- n. One who receives, or is entitled to receive, an annuity.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- n. the recipient of an annuity
Sorry, no etymologies found.
Among the practices at issue: investors paying terminally ill people to be named as the "annuitant" in the annuity, the person whose death triggers an often-valuable death benefit.
The article detailed instances of investors paying terminally ill people to be named as the "annuitant," meaning their death would trigger the death benefit.
Crucially for Mr. Caramadre, the plans also come with a guaranteed death benefit, in which the insurer generally agrees to repay at least the amount invested after the "annuitant" dies, even if markets have cratered and the invested sums have dwindled.
The word "annuitant", as used in this section and sec - tions one hundred and thirty-two B and one hundred and thirty-two C, shall mean any person on whose life an annuity is payable under a group annuity contract.
The institute said a better approach would be for applications to ask about the relationship between the contract holder and the annuitant.
Typically, a consumer buying an annuity to save for retirement would himself be the annuitant, not an unrelated person, as happens when professional investors get involved.
A single premium immediate annuity offers an income stream that will last as long as the annuitant (or joint annuitant, if that option is selected) lives or for a predetermined period, depending on the option selected at the time of purchase.
In exchange for these payments, the annuitant surrenders a specific amount of money to the insurance company.
And since inflation-indexed annuities are only offered by a few insurance companies, there's not a lot of competition to help make those rates attractive for the annuitant.
Normally this purchase is irrevocable, and the money used to make the SPIA purchase is not available to one's heirs, even if the annuitant dies shortly after purchasing the annuity, unless a predetermined payment period was selected.