Soori thus individually became the annuity owner and annuitant
, with his probate estate the primary beneficiary.
Answer: The differentiation between owner-driven versus annuitant-driven contracts addresses the consequences of the death of an annuitant
during the accumulation phase of a deferred annuity.
This paper explores the extent to which annuitants
might be prepared to pay for protection against cohort-specific mortality risk, by comparing traditional indexed annuities with annuities whose payout rates are revised in response to differences between expected and actual mortality rates of the cohort in question.
The mortality experience of the single life annuitant
provides a convenient ex post measure of risk type; measuring the risk type of a joint life policy that insures multiple lives is less straightforward.
Both structured settlement annuitants
and lottery annuitants
experience unique financial demands, which must be handled on a case by case basis.
Joint Life Annuity for life (without any death benefit) - A fixed amount, guaranteed at the policy inception, will be paid as long as at least one of the annuitants
Rising life expectancy is another factor and annuity providers are compensating for having to pay annuitants
for longer by paying a lower level of income.
These tables take into account the annuitant
's or joint annuitant
's life expectancy; the annuitant
's age determines the amount of the payments.
While a straight life annuity will result in the highest total annual payments to the annuitant
, it is rarely the best choice, because the risk of losing one's investment before recovering the principal is too much of a psychological barrier during the purchase process.
Cleveland employees performed the retired pay function and Denver handled annuitant
In the case of a joint and survivor annuity, what value is includable in the gross estate of the annuitant
who dies first?
If the annuitant
dies prior to the annuity starting date, the then existing values could be used to provide either a lump-sum payment or an ongoing income to one or more beneficiaries.