What does Single Annuitant mean? Read on to discover the definition & meaning of the term Single Annuitant - to help you better understand the language used in insurance policies.
Single Annuitant, also known as Single life annuity, is a retirement financial plan in which the insured pays the insurer, in installments or the full amount, and in return the insurer is obligated to make scheduled payments to the insured until they die. The payments do not extend to the survivors of the annuity owner.
We hope the you have a better understanding of the meaning of Single Annuitant.