GENERAL KNOWLEDGE

Detailed explanation-1: -An annuitant is a person who is entitled to income benefits from an annuity. This is also the person whose life expectancy determines the payment amounts. The annuitant is usually the annuity contract owner, but can also be the spouse or a friend or relative of the annuity owner.

Detailed explanation-2: -An annuitant is an individual who receives payments from an insurance company or other financial institution. Annuitants typically receive these payments in exchange for a lump sum premium payment, although other payment options may be available.

Detailed explanation-3: -The annuitant is the person designated by the owner who receives the annuity payouts. More often than not, the annuity owner and the annuitant are the same person, but they don’t have to be. Keep reading to learn the difference between annuitants and annuity owners and how the two differ from beneficiaries.