Definitions for "ANNUITIZATION"
Keywords:  payout, tied, option, lump, expectancy
An annuity contract payout option that provides annuity benefit payments that are tied to the life expectancy of the annuitant.
a payout option other than a lump sum payment
The payout period on an annuity.
waiving access to your accumulated dollars in return for guaranteed payments.
Is when the policyholder chooses to contract for a series of payments. It provides an even distribution of both principal and interest over a period of time. Annuitization only subjects a portion of the amount withdrawn for that year to be taxed.
Converting the value of the annuity contract into a stream of income, either for a lifetime or a specified period of time.
The process in which an annuity is paid out according to the annuity option the policyowner has selected.
The election to start receiving regular payments from an annuity. The annuity is said to be annuitized.