Life income with period certain annuity

Life income with period certain annuity,

Definition of Life income with period certain annuity:

  1. Annuity that guarantees regular payment of a certain sum for the life of the annuitant. In case he or she dies before the completion of a specified period, the payments are made to a designated beneficiary until the end of that period.

Meaning of Life income with period certain annuity & Life income with period certain annuity Definition