What does Annuity Certain mean? Read on to discover the definition & meaning of the term Annuity Certain - to help you better understand the language used in insurance policies.
Annuity that, as a minimum, guarantees a fixed number of payments. It continues over the life of the annuitant, even if he or she lives beyond the number of payments specified in the annuity contract. In case the annuitant dies before exhausting the payments, a named beneficiary continues to receive the remaining number. Also called life annuity certain or life annuity certain and continuous.
We hope the you have a better understanding of the meaning of Annuity Certain.