- The owner or recipient of an annuity contract or pension.
recipient, casher, collector, receiver, consignee
Related Terms and Acronyms
- Annuitization — Definition,
- The process of turning a retirement plan or annuity into income in the form of periodic payments or a single lump sum.
- Annuity — Definition,
- A regular periodic payment made by an insurance company to a policyholder for a specified period of time.
- A financial instrument that disperses a number of payments over a set period of time.
- Commissioners' Reserve Valuation Method — Definition,
- A method used to determine the minimum statutory reserves for annuities and insurance products.
- Payee — Definition,
- The name of the person to whom the money in a cheque is to go.
- Reverse Mortgage — Definition, Important,
- A loan that allows an older homeowner to convert built-up equity into cash. The loan comes due when the owner dies, sells the house or moves out.