Annuitant

Definition - What does Annuitant mean?

Annuitant is an individual who purchases an annuity and receives scheduled payments from the annuity contract.

Testopedia explains Annuitant

An investor who purchases an annuity from an insurance company is known as the annuitant. Once the individual annuitizes the contract the annuitant will exchange their accumulation units for annuity units and will begin to receive scheduled payments.

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