Annuitants

Annuitants are individuals who receive regular payments from a pension plan, insurance policy, or retirement account, usually after they retire. These payments are often made monthly and are based on the amount accumulated during their working years. The purpose is to provide a steady income stream throughout retirement. Annuitants may also be called retirees or beneficiaries, and their payments can be guaranteed for life or a specified period, depending on the agreement. Essentially, they are beneficiaries of a financial arrangement designed to support them financially after they stop working.