retirement annuity
An annuity that begins making payments only after the annuitant’s retirement. • If the annuitant dies before retirement, an agreed amount will usu. be refunded to the annuitant’s estate.
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An annuity that begins making payments only after the annuitant’s retirement. • If the annuitant dies before retirement, an agreed amount will usu. be refunded to the annuitant’s estate.
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rentier (rawn-tyay). [French] 1. A person who owns or holds rentes. See RENTE. 2. A person who makes or lives off an income from property or investment; a stockholder or annuitant.
An annuity with guaranteed payments during the annuitant’s life, but with no refund to anyone at death. — Also termed straight life annuity; pure annuity.
An annuity providing for a lump-sum payment after the annuitant’s death of the difference between the total received and the price paid.
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An annuity providing for continued payments to a survivor, usu. a spouse, after the original annuitant dies. — Also termed continuing annuity.
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