Life With Period Certain at Life

Life With Period Certain. If the annuitant (or both annuitants for a joint life policy) were to live beyond that period, payments would continue for the lifetime(s) of the annuitant(s). A life annuity with period certain annuity is a contract that guarantees payments for an annuitant’s entire life along with a guaranteed period of time, typically 5 to 20 years.

For those of you who get confused when offered a plethora of annuity types, stan the annuity man is here to save the day! Single life annuity with period certain: If the annuitant dies before the guaranteed period has expired, the payments can be passed to a beneficiary.

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What is a life annuity with period certain annuity. What is the definition of life annuity with period certain? Definition of the term life with period certain. A life annuity with period certain is a hybrid option that provides lifetime payments with guaranteed income for a specified number of years.