Which term describes the person who puts money into an annuity and has all the rights?

Which term describes the person who puts money into an annuity and has all the rights?

• A. Annuity
• B. Annuitant
• C. Beneficiary
• D. Owner

Answer: (D)

Ownership is the term that describes the person who funds an annuity and holds all contractual rights. The owner controls premium payments, designates beneficiaries, decides how and when withdrawals or payouts occur, and can transfer or surrender the contract. In contrast, the annuitant is the person whose life dictates the payout stream, the beneficiary is the person who would receive death benefits, and the annuity itself is the contract or product, not a person. So the individual who puts money into the contract and has full control over it is the owner.

Ownership is the term that describes the person who funds an annuity and holds all contractual rights. The owner controls premium payments, designates beneficiaries, decides how and when withdrawals or payouts occur, and can transfer or surrender the contract. In contrast, the annuitant is the person whose life dictates the payout stream, the beneficiary is the person who would receive death benefits, and the annuity itself is the contract or product, not a person. So the individual who puts money into the contract and has full control over it is the owner.