Life Income with Period Certain

Life Income with Period Certain

An annuity in which the annuitant receives payments for the remainder of his/her life. If the annuitant dies before a stated period of time has elapsed, payments continue to be made to a designated beneficiary until the completion of that period. As with all annuities, the annuitant must purchase it before payments are made, either by a lump sum or periodic payments made through one's working life.
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Clients can also purchase a series of life income with refund or life income with period certain annuities.