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Legal Terms - Annuity
An annuity is a fixed amount of money that is paid out annually to a recipient, either for their entire lifetime or for a specific length of time, such as the lifetime of another person or until the annuitant reaches a certain age. A bequest bequeathed by
Will is seen as a monetary bequest. An annuity can either be levied against a specific fund or be unsecured. A joint annuity, where funds are disbursed to multiple annuitants, ceases with the demise of the final surviving individual.
An annuity is a fixed amount of money that is paid out annually to a recipient, either for their entire lifetime or for a specific length of time, such as the lifetime of another person or until the annuitant reaches a certain age. A bequest bequeathed by
Will is seen as a monetary bequest. An annuity can either be levied against a specific fund or be unsecured. A joint annuity, where funds are disbursed to multiple annuitants, ceases with the demise of the final surviving individual.
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