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Term Certain Annuity |
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Term Certain Annuity An annuity that makes payments (either monthly or in a lump sum) to the annuitant only for a certain period of time. A term certain annuity guarantees these payments for the term but ceases payments if the annuitant is still alive when the policy expires. While these may be a useful part of a larger retirement plan, term certain annuities could leave the annuitant with no income at all if they form the entirety of one's retirement. See also: Life Annuity. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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