An ordinary annuity is a series of equal payments made at the end of consecutive periods over a fixed length of time. The opposite of an ordinary annuity is an annuity due, in which payments are made at the beginning of each period.

What is the annuitant name?

An annuitant is a person whose age and life expectancy affect the size of the monthly payments that are paid to the owner of an annuity. When an annuity owner names two annuitants, they are commonly known as joint annuitants. If you’re married, this may be a good option for you and your spouse.

An annuitant is an individual who is entitled to collect the regular payments of a pension or an annuity investment. The annuitant may be the contract holder or another person, such as a surviving spouse. Annuities are generally seen as retirement income supplements.

What are the different types of annuities available?

There are a variety of types of annuities available for investors to consider, with an equally wide variety of accumulation and annuitization processes); the complexity of annuities makes consulting a financial advisor essential to ensuring a good outcome.

Can a domestic relations order be issued for an annuity?

A couple with an annuity held in a qualified retirement plan — including a 401 (k) or an IRA account — needs a Qualified Domestic Relations Order (QDRO) to protect tax exemption. A court issues the order and often divides retirement assets.

How are qualified annuities divided in a divorce?

Qualified Annuities. The QDRO needs to be in place prior to the finalized divorce in order to protect both parties. The court requires insurers to comply with orders for splitting the annuity. A state court judgment, decree or approval of the property settlement agreement can define rules for dividing the asset.

What do you need to know about annuitization?

What is Annuitization? 1 Annuitization Payouts. Annuitant An annuitant is an entity that is entitled to a series of payments on an interval basis. 2 Phases of an Annuity. The first of the two phases is the accumulation phase. 3 Types of Annuities. There are several types of annuities available. …