Annuitant is a word that often poses a challenge for spellers, with its unique combination of vowels and consonants. The IPA phonetic transcription of the word is /əˈnuː.ɪ.tənt/, which breaks down the pronunciation into individual sounds. The first syllable is pronounced "uh," followed by a long "oo" sound. The next two syllables are "it" and "ant," with the stress placed on the second-to-last syllable. Although the spelling may be difficult to remember at first, the use of the IPA can aid in accurately pronouncing annuitant.
An annuitant refers to an individual who receives or is entitled to receive regular payments from an annuity. An annuity is a financial arrangement in which an individual or an entity agrees to make fixed periodic payments to an annuitant in exchange for a sum of money or property. The annuitant could be a beneficiary of an annuity contract, typically funded through insurance or investment products.
The annuitant is usually the person upon whose life the annuity plan is based. They may be the original investor who purchases the annuity or a designated individual who will benefit from the annuity payments in the future. The payments made to the annuitant can be for a specific period or for the annuitant's lifetime. In some cases, payments may continue to be made to a beneficiary after the annuitant's death.
The annuitant's level of income typically depends on factors such as the amount contributed to the annuity, the performance of the underlying investments, the annuity plan's terms and conditions, and the annuitant's life expectancy.
The role of the annuitant is crucial in ensuring the smooth operation of an annuity contract. They are the recipient of the regular payments, which are designed to provide financial security and a steady income stream, whether over a fixed period or for the rest of their life.
The designated person to whom an annuity is paid.
A practical medical dictionary. By Stedman, Thomas Lathrop. Published 1920.
One who receives a sum of money every year for maintenance.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
The word "annuitant" derives from the Latin verb "annuere", which means "to nod" or "to assent". In Ancient Rome, in the context of public elections, it became a custom for voters to signify their approval by nodding their heads. Over time, "annuere" evolved into "annuit", meaning "he nods". The suffix "-ant" was then added to form "annuitant", referring to someone who is granted an annuity or a financial sum in regular installments.