an owner (the person who buys the annuity contract and names the other participants)
an annuitant (the person who receives the income if the contract is converted to generate income)
an owner’s beneficiary (the person receiving the death benefit if the owner dies)
an annuitant’s beneficiary (the person who receives the death benefit if the annuitant dies).
It is also possible to have joint owners and joint annuitants.
Depending on who gets which benefit, an annuity contract is said to be:
Owner-driven, if the annuity death benefit passes to the owner’s beneficiary upon the death of the contract owner. If the annuitant dies, the owner simply continues with the contract without any other effect.
Annuitant-driven, if the death benefit passes to the annuitant’s beneficiary upon the death of the annuitant. Upon the death of the owner, the owner’s beneficiary receives the contract value (possibly less than the death benefit).
76.4% of retail investor accounts lose money when trading CFDs with this provider.
Total Number of Stocks & Shares+2000
Charge per Trade
FTSE 100Zero Commission
Users should remember that all trading carries risks and users should only invest in regulated firms. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
David Waring was the founder of LearnBonds.com and has been a major contributor to the extensive library of investing news and information available on the site. Until the launch of Learnbonds.com in late 2011 there was no single site on the internet catering exclusively to the individual bond investor. This was true even though more individuals own stocks than bonds. Learn Bonds was launched to fill that gap.