Annuitant Meaning: Definition, Examples, and Translations
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annuitant
[หรฆnjuหษชtษnt ]
Definition
financial
A person who receives an annuity, especially from an insurance company.
Synonyms
beneficiary, payee, recipient.
Which Synonym Should You Choose?
Word | Description / Examples |
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annuitant |
Use this word when referring to someone who receives regular payments, often from an annuity or retirement plan.
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beneficiary |
This word is used to describe someone who receives funds or other benefits from a trust, will, life insurance policy, or other financial arrangement. Often used in legal contexts.
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recipient |
This is a general term used to describe someone who receives something, whether it be money, a gift, or any other item. It is broader and more versatile than the other terms.
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payee |
This term specifically refers to the person to whom money is paid in a financial transaction, such as on a cheque or a bill.
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Examples of usage
- The annuitant receives a fixed sum of money every month from the insurance company.
- She is the annuitant of a structured settlement, which provides her with a steady income stream.
- The annuitant may choose to receive payments for a specific period or for their lifetime.
- An annuitant can opt for a lump-sum payment instead of regular installments.
- Upon the death of the annuitant, the remaining balance may be passed on to a beneficiary.
Translations
To see the translation, please select a language from the options available.
Origin of 'annuitant'
The term 'annuitant' originated from the Latin word 'annuitans', which means 'to grant annually'. In ancient Rome, annuities were granted yearly by the government to soldiers and officials. Over time, the concept evolved into financial payments made to individuals on a regular basis. Today, annuitants play a crucial role in the insurance and financial industry, receiving periodic payments to support their financial needs.