annuity certain

  • A contract which provides for annuity payments for a prescribed number of years, whether or not the annuitant lives or dies. If it pays for life after the certain period, it is called an "annuity certain and for life thereafter."

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).