What does Joint Annuitant mean? Read on to discover the definition & meaning of the term Joint Annuitant - to help you better understand the language used in insurance policies.
A joint annuitant is a co-owner of an annuity for two people, usually a married couple. Payment from the annuity is meant for both of them. When one of them dies, the payment usually ends. However, if there is a survivor clause in the plan, the surviving annuitant continues to receive payments from the plan.
We hope the you have a better understanding of the meaning of Joint Annuitant.