Specified number of years during which a benefit is guaranteed to continue. In a period certain pension plan, for example, the participant (or his or her beneficiary) is paid a certain sum for (depending upon the period specified) 5, 10, 15, or 20 years, even if the participant dies. If the participant outlives this period, no further sum is paid unless it is a 'life income period certain' plan or annuity. The amount paid in a period certain plan is normally more than that for the life income period certain plan because the total amount to be paid is known in advance.
Related information about period certain:
- Period Certain Definition | Investopedia
An annuitization-method option with which the annuitant selects a specific time period for which the annuity income payments will last. This is unlike the more ...
- What is period certain? definition and meaning
Definition of period certain: Specified number of years during which a benefit is guaranteed to continue. In a period certain pension plan, for example, the ...
- What is life income with period certain annuity? definition and meaning
Definition of life income with period certain annuity: Annuity that guarantees regular payment of a certain sum for the life of the annuitant. In case he or she dies ...
- Period-Certain Annuity: Definition from Answers.com
annuity that guarantees payments to an annuitant for a particular period of time. For example, a 10-year period-certain annuity will make annuity payments.
- Period Certain Annuity - Financial Dictionary - The Free Dictionary
An annuity that provides guaranteed payments to an annuitant for a specified period of time. Period-Certain Annuity. An annuity in which the annuitant selects a ...
- What payout options do I have? - Ultimate Guide to Retirement
Income for guaranteed period (also called period certain annuity). You are guaranteed a specific payment amount for a set period of time (say, five years or 30 ...
- life annuity with period certain - Invest Definition
life annuity with period certain definition: An investment whose payouts are made to the insured during his or her lifetime or to his or her beneficiary according to ...
- What Is a Period Certain?
A period certain is an option that is offered with many types of annuities. Instead of a lump sum payment of the annuity, the annuitant, or the recipient of the ...