What is an Annuity Contract Owner?

The owner of an annuity is referred to as a contract owner. The latter can be either a person or an entity.

The process of purchasing an annuity is undergone by the contract owner, and s/he is the one who has to sign all the paperwork. Additionally, the contract owner should provide the funds for the annuity. The annuity contract being singed includes a number of conditions to which the contract owner should agree.

The contract owner has to decide on a lot of details concerning the annuity. Some of them include:

• Start time of the annuity
• The amount of money that is put in the annuity
• The time when the money is withdrawn from the annuity
• Who will be the beneficiary and annuitant (the contract owner himself/herself can be designated)
• What are the types of investments that will be made as well as their terms
• Etc.

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