Annuitant

DEFINITION of 'Annuitant'

1. A person who receives the benefits of an annuity or pension.

2. The person upon whom a life-insurance contract is based.

BREAKING DOWN 'Annuitant'

1. In other words, the annuitant is the beneficiary of an annuity or pension.

2. An annuitant can be the contract holder or someone else to whom the title was designated. Proceeds of the contract are given to the beneficiary upon the annuitant's death in order to protect the beneficiary from a loss of income.

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