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ANNUITANT What is annuitant? definition and meaning

ANNUITANT | meaning in the Cambridge English Dictionary
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Meaning of “annuitant” in the English Dictionary

Business

  • Business

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“annuitant” in Business English

annuitant
noun [ C ]

uk




/əˈnjuːɪtənt/
us




LAW someone who receives an annuity (= a fixed amount of money paid to someone every year , usually until their death ):

Yields are reduced for female policyholders because they are likely to live longer than male annuitants.


(Definition of “annuitant” from the Cambridge Business English Dictionary © Cambridge University Press)

What is the pronunciation of annuitant?

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  • annual stockholders’ meeting

  • annual value

  • annualized

  • annually

  • annuitant
  • annuity

  • annuity insurance

  • annul

  • annular

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      annuitant

      noun

      an·​nu·​itant


      | \ə-ˈnü-ə-tənt,

      -ˈnyü-\

      Definition of annuitant 

      : a beneficiary of an annuity

      Examples of annuitant in a Sentence

      Recent Examples on the Web


      Thornton retired from the medical board in December 2002 but stayed on in interim positions, and also had a lengthy stint as a retired annuitant.

      Marjie Lundstrom, sacbee, “Sexual harassment settlement didn’t stop these retired California state workers from coming back | The Sacramento Bee,” 19 Apr. 2018



      Come June 2018, whatever portion of the annuities in which the wife is the annuitant, become available, as well as $420,000 from a 403(b).

      Peter Dunn, USA TODAY, “Taking an early retirement may be financially risky,” 21 Oct. 2017



      Come June 2018, whatever portion of the annuities in which the wife is the annuitant, become available, as well as $420,000 from a 403(b).

      Peter Dunn, USA TODAY, “Taking an early retirement may be financially risky,” 21 Oct. 2017



      Come June 2018, whatever portion of the annuities in which the wife is the annuitant, become available, as well as $420,000 from a 403(b).

      Peter Dunn, Indianapolis Star, “Pete the Planner: Educators can retire early — with a little luck,” 18 Oct. 2017



      The Civil Service Retirement and Disability Fund loses $120 million a year to deceased annuitants and other improper payments.

      Christina Jedra, USA TODAY, “Whoops! Dead woman gets pension for almost 20 years,” 2 Sep. 2017

      These example sentences are selected automatically from various online news sources to reflect current usage of the word ‘annuitant.’ Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback .

      See More

      First Known Use of annuitant

      1716, in the meaning defined above

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      Dictionary Entries near annuitant

      annual wage

      annuary

      annuation

      annuitant

      annuit coeptis

      annuitize

      annuity

      Statistics for annuitant

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      Time Traveler for annuitant

      The first known use of annuitant was
      in 1716

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      More Definitions for annuitant

      annuitant

      noun

      Financial Definition of annuitant

      What It Is

      An annuitant is the person whose age and life expectancy affect the size of the monthly payments to the owner of an annuity .

      How It Works

      An annuity is similar to a life insurance product, but there are important differences between the two. Under the terms of a life insurance policy, the insurer will generally make a payment upon the death of the insured. Under the terms of an annuity, the company makes its payments during the lifetime of the annuitant. And unless the annuity contract specifies a beneficiary , annuity payments stop upon the death of the annuitant.

      The owner and the annuitant are usually the same person, and in some cases the annuity company requires them to be the same person. Most annuity payments stop upon the death of the annuitant — called a "life-only option."

      Some annuities, however, allow the owner to name a beneficiary, who inherits whatever is left of the annuity after the annuitant dies.

      For example, if you purchase an annuity from Company XYZ and name your older sister as the annuitant, the annuity payments are based on your sister’s age and life expectancy. If you name your child as the beneficiary, he or she will inherit what is left of the annuity when the annuitant, your sister, dies.

      In most cases, the beneficiary and the annuitant cannot be the same person unless the owner and the annuitant are separate people. Some insurance companies offer life-plus-five or life-plus-ten options, whereby the annuity payments go to the named beneficiaries for five or ten years after the annuitant’s death if the death is sooner than expected.

      Why It Matters

      Annuities may be good bets for some income investors, but their appropriateness depends on the investor’s financial goals, tax situation, and the types of annuities available.

      Annuities generally involve paying a lump sum up from, then receiving periodic payments for a certain period of time. Inflation and interest rate expectations may affect the type of annuity an investor chooses, as will the investor’s wishes for his or her dependents and heirs.

      Annuity taxation can be extremely confusing. For example, when a beneficiary inherits an annuity, he or she is taxed on the annuity’s gains at the ordinary tax rate instead of getting a step-up in basis as would be the case if he or she had inherited mutual fund shares . Thus, it is important to work with a tax attorney, estate planner or CPA to make sure you understand the terms of a particular annuity before investing .

      Source: Investing Answers

      annuitant

      noun

      an·​nu·​i·​tant


      | \ə-ˈnü-ə-tənt, -ˈnyü-

      \

      Legal Definition of annuitant 

      : a person entitled to receive benefits or payments from an annuity

      Comments on annuitant

      What made you want to look up annuitant? Please tell us where you read or heard it (including the quote, if possible).

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      Home British & World English annuitant

      Definition of annuitant in English:

      annuitant

      noun

      formal

      • A person who receives an annuity.

        • ‘When annuitants die, the income dies with them, and the life company that offers the annuity retains any surplus from the lump sum investment.’
        • ‘The annuitant must declare the full amount receivable on his tax return to be given credit for the tax withheld.’
        • ‘Another element of the Bill is that it facilitates the enhanced collection powers of the Department, making it more difficult for annuitants to fall into debt.’
        • ‘The dramatic difference in rates charged means that Strategic Capital pays annuitants thousands of dollars more cash now for their structured settlement payments.’
        • ‘If your designated survivor annuitant dies before you, or you are divorced or married after electing the option, you may name a new survivor’
        • ‘Care should be taken, as Equitable with-profits annuitants have been badly hit by the crisis there.’
        • ‘With-profit annuitants are to see their pensions cut by up to a third and the society’s financial position has deteriorated to a point where it is barely solvent.’
        • ‘Most annuitants choose to receive monthly payments for the rest of their life and their spouse’s life (meaning the insurer stops issuing payments only after both parties are deceased).’
        • ‘Beginning at age 62, the annuitant received either 35 percent of the base amount or 55 percent of the base amount minus the Social security benefit attributed to military service.’
        • ‘The particulars stated that: ‘Estate duty will be payable on the death of the annuitant who is believed to have no aggregable estate’ and the name of the solicitors who prepared the particulars was given.’
        • ‘For many of them their investment in a policy with the Society represents a substantial part of their savings, or of their pension provision; in the case of annuitants it may be all or a large part of their actual pension.’
        • ‘Any annuity payable to the same or another individual shall be treated as earned income of the annuitant to the extent to which it is payable in return for any amount on which relief is so given.’
        • ‘The remaining 2,300 annuitants will be offered a 25% discount on the redemption price of their annuity, provided their arrears are up to date.’
        • ‘As an annuitant who cannot leave Equitable, I demand that the Penrose report be published in its entirety as soon as possible and that open hearings be granted now.’
        • ‘Retirees and other annuitants may choose to enroll in one of several plans from health maintenance and preferred provider organizations.’
        • ‘In line with this, many annuitants and prospective pensioners have been receiving smaller pensions or annuities than what they were originally quoted.’
        • ‘Your assistance would be appreciated in reaching Zimbabwe / Rhodesian pensioners and annuitants, widows and others interested.’

      Origin

      Early 18th century: from annuity, on the pattern of accountant.

      Pronunciation

      annuitant

      /əˈnjuːɪt(ə)nt/

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