Sentences with phrase «death of the annuitant before»
Not exact matches
A guaranteed annuity or life and certain annuity, makes payments for at least a certain number of years (the «period certain»); if the annuitant outlives the specified period certain, annuity payments then continue until the annuitant's death, and if the annuitant dies before the expiration of the period certain, the annuitant's estate or beneficiary is entitled to collect the remaining payments certain.
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This option would guarantee the beneficiary that the plan would receive an additional pre-determined amount of money that would be above and beyond the death benefit in the event that the annuitant dies before the annuity's maturity.