The person who receives the benefit of an annuity is known as the?

In the context of annuities, the term "annuitant" refers to the individual who is designated to receive the benefits of the annuity. This person is typically the one upon whose life the annuity is based, and they will receive payments according to the terms established in the annuity contract. The payments can be structured in various ways—either for a fixed period, for the lifetime of the annuitant, or based on other conditions.

The annuitant is critical to the functioning of the annuity since the payments are determined by the annuitant's life expectancy and other factors. This role differs from others associated with an annuity, such as the policyholder, who may establish the annuity, or the owner, who manages it. The beneficiary is also relevant, as they would receive any remaining benefits upon the death of the annuitant, but they do not receive the ongoing benefits from the annuity itself while the annuitant is alive. Thus, identifying the annuitant accurately captures the essence of who directly benefits from the annuity payments.