- While in the process of annuitizing a retirement plan or annuity, one can choose from a wide range of differing options including the time frame for payment and the list of beneficiaries.
annuitize, capital benefits, draw options, subsidization preference
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.
- 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.