Parties to the Contract
Insurer: Issues the contract; accepts either single premium (lump sum) or multiple premiums from the contract owner.
Owner: Purchases the contract; designates the beneficiary; determines when to annuitize, withdraw, or transfer.
Annuitant/Payee: Receives the annuity payments.
Beneficiary: Person or entity receiving the annuity death benefit.
Last Updated: 9/23/2012 10:05:00 PM