What is a term certain annuity?

Other names for a term certain annuity include " years certain annuity ," " annuity certain ," " period certain annuity ," "fixed period annuity," or a "guaranteed term" or "guaranteed period annuity." A term certain annuity is an insurance product that guarantees a periodic payment of a predetermined amount for a fixed term.

What is a life annuity with period certain?

A life annuity with period certain is a hybrid option that provides lifetime payments with guaranteed income for a specified number of years. For example, if you purchase a single life annuity with a 20-year period certain rider and pass away 10 years later, your beneficiary will collect income benefits for another 10 years.

What is a synonym for annuity certain?

Synonyms for annuity certain include years certain annuity, period certain annuity, fixed period annuity, and guaranteed term or guaranteed period annuity. The investor in an annuity certain could easily outlive the payment period. Beware of relying on one for retirement income.