Life income with certain period is a type of annuity that provides money to the insured on a regular basis for a specific number of years. If the insured dies before the period ends, the beneficiary gets the remaining payments from the annuity.
This annuity is also called period certain annuity.
This annuity is considered good if the annuitant doesn't outlive the period of payments. If the annuitant relies on the annuity for money and survives the period, then they will find themselves without income.
For assured income from annuitization, a person might consider another annuity that can provide them with money for the rest of their life.
Synonyms
Period Certain Annuity
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