GENERAL KNOWLEDGE

Detailed explanation-1: -Annuitization is the process of converting an annuity investment into a series of periodic income payments. Annuities may be annuitized for a specific period or for the life of the annuitant. Annuity payments may only be made to the annuitant or to the annuitant and a surviving spouse in a joint life arrangement.

Detailed explanation-2: -What Is Variable Annuitization? Variable Annuitization is an annuity option in which the amount of the income payments received by the policyholder will vary according to the investment performance of the annuity.

Detailed explanation-3: -Annuitization is the process of converting an annuity into periodic income payments. Annuities can be annuitized for a specific amount of time or for the life of the annuitant. Payments can be made only to the annuitant or to the annuitant and second annuitant in a joint-life annuity.

Detailed explanation-4: -Accumulation periods are specific to deferred annuities, and they end when the premiums are converted to an income stream. This conversion is referred to annuitization. Immediate annuities, also known as income annuities, don’t have an accumulation phase because they are annuitized at the time of purchase.