An annuitant is a person who receives the benefit of the annuity. The annuitant may be different from a policyholder. The annuitant can be the person who buys an annuity plan from a life insurance company or he/she can be the government official who is entitled to receive lifetime payments.


For calculation of annuity, age and life expectancy of an annuitant is taken into account. Annuitants do not have the right to change the conditions and nominations in the policy. The entire control is in the hands of the annuity owner .


Case 1: Husband purchased an annuity policy in a joint-life option. After his death, the wife receives the benefits of the annuity (pension). In this case, the wife becomes the annuitant.

Case 2: Son purchases an annuity policy and adds parents as beneficiaries(survivors). In case of the demise of a son, parents receive the benefits of annuity as long as they survive. Here parents become annuitant.