A life annuity that guarantees payments will continue for a specified number of years. If the annuitant dies before the period certain has expired, payments will be made to a beneficiary for the duration of the period certain.
A form of annuity policy which guarantees an income to the annuitant for as long as she or he lives, but also guarantees to make payments to someone (either the annuitant or a beneficiary) for a specified number of years.
A life annuity which promises that if the annuitant dies before the end of a designated period (usually 5, 10, or 20 years), the insurer will continue payments to a contingent payee until the end of the designated period. Also called a life income with period certain annuity.