In a variable annuity, the time when the client is receiving benefits from the contract based on the number of units owned, payout option selected and the performance of the separate account. See also: Annuity Unit; Separate Account.
The time between each benefit payment made under an annuity contract.
The time span between each of the payments in a series of periodic annuity payments; for example, if benefits are payable monthly, then the annuity period is one month.
The time between each payment under an annuity, usually 1 month or 1 year.
The period of time, usually at retirement, during which the annuitant begins to receive annuity payments or benefits from the insurance company. (AN)
Time span between each payout made under an annuity contract.
Also known as the payout period or liquidation period. When assets of the individual are sold to make payments to the annuitant.
The time spans between each of the annuity income benefit payments made under the annuity contract. Typically annuity income benefits are paid monthly or annually.
The time span between the benefit payments made under an annuity contract.