Investment Dictionary

Annuity Certain (Period Certain Annuity)

A type of annuity in which the insurance company will pay you an income for a specified amount of time (5 years, 10 years, 20 years, etc.). In a Life Annuity with Period Certain, the company will pay you an income for as long as you live, but if you die before the period certain that you choose, the income will be paid to a survivor you designate until the end of that period.

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