Glossary
A
- After Tax Savingss
- Term used to describe investments or contracts purchased with money that has already been taxed. Also known as "non-qualified" investments or contracts
- Annuity
- The person on whose life the annuity income payments are based. The contract owner decides who the annuitant will be. The contract owner and the annuitant are often the same person. Link here.
B
- Beneficiary
- Generally, the person(s) who receive(s) money upon the death of the annuity's contract owner or annuitant. The contract owner decides who the beneficiary will be.
C
- Contract Owner
- The person(s) or entity who purchases the annuity and has all rights to the contract. This person can do things such as make withdrawals, name the annuitant (usually the contract owner) and the beneficiary, and in a variable annuity, make investment decisions and transfer money among funding options.
D
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T
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V
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