Comprehensive and Detailed Step by Step Explanation:
In an annuity, theannuitant (D)is the individual entitled to receive benefits during the liquidation phase.
Theowner (A)controls the contract but may not be the recipient.
Thebeneficiary (B)receives funds only after the annuitant’s death.
Nominator (C)is not a term used in annuities.
[References: Maryland Annuity and Retirement Income Provisions., ]
Contribute your Thoughts:
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit