Annuity Contract
/ˈæn.ju.ɪ.ti ˈkɒn.trækt/
Definitions
- (n.) A financial agreement obligating periodic payments to an individual for a specified period or lifetime, often used as retirement income.
The annuity contract ensures a steady income stream for the retiree.
Forms
- annuity contract
- annuity contracts
Related terms
See also
Commentary
Annuity contracts are distinct financial instruments frequently drafted with specific terms regarding payment duration and beneficiary rights.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.