owner of annuity
purchaser of contract; has all the rights
annuitant
person who receives benefits or payments from the annuity
beneficiary
person who recieves annuity assets
accumulation period
Pay in" period; time over which the owner makes payments into the annuity
annuitization period (annuity period)
liquidation period or "Pay out" period; time during which the sum is converted into a stream of income payments to the annuitant
annutization date
time when the annuity benefit payouts begin
surrender charges
at surrender the owner gets the premium plus interest minus the surrender charge
pure life
ceases at the annuitants death; highest monthly benefits for an individual annuitant