Annuity Payout definition
Annuity Payout. An amount paid at regular intervals under one of several options available to the Annuitant and/or any other payee. This amount may be paid on a variable or fixed basis, or a combination of both.
Annuity Payout means amount payable to the Annuitant as per the Annuity Payout Mode as mentioned in the Policy Schedule. Benefits mean the applicable benefits payable in accordance with Clause 4 of the terms of this Policy.
Examples of Annuity Payout in a sentence
The annuity is payable during the life of the Annuitant from the First Annuity Payout Date as per the terms and conditions of the Policy.
An Annuity would be payable as per the Annuity Payout Mode shown in the Policy Schedule.
The first Annuity Payout will be due for payment on the First Annuity Payout Date as mentioned in the Policy Schedule.
The Company may at its discretion at any point of time request the Annuitant to produce a survivorship/existence certificate before paying the Annuity Payout.