Defined terms for the annuity market and lifetime income landscape.
Life with period certain is an annuity payment option under which income is paid for the lifetime of the annuitant or for a specified guaranteed period, whichever is longer, with any payments remaining in the guaranteed period at the annuitant's death continuing to a named beneficiary. Why it matters The life with period certain option adds a guaranteed minimum payout duration to the lifetime payment structure, addressing the case in which the annuitant dies shortly after annuitiz
