Temporary Life Annuity Due
Updated: 10 December 2024
What Does Temporary Life Annuity Due Mean?
A temporary life annuity due refers to a payment owed under a temporary life annuity. This type of annuity provides payments either until a specified time period ends or until the annuitant passes away, whichever occurs first.
Insuranceopedia Explains Temporary Life Annuity Due
During the accumulation phase, the annuitant receives a temporary life annuity due for each pay period. Once the annuitization phase begins, the annuitant starts receiving regular payments from the annuity. Payments continue until either the annuity expires or the annuitant passes away, at which point the payments cease.
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