annuity certain

annuity certain definition - business

annuity certain

An annuity that provides a fixed number of payments. If the annuitant dies prior to the completion of the contract, payments continue to the annuitant's designated beneficiary. Also called period certain annuity.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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