Annuitization

Annuitization is the process by which a person converts part or all of the money in a qualified retirement plan or nonqualified annuity contract into a stream of regular income payments, either for one's lifetime or the lifetimes of the person and his/her joint annuitant. Once a person choose to annuitize, the payment schedule and the amount is generally fixed and can't be altered.

Nearby pages
Annuitization Options, Annuity, Annular, Annular Eclipse, Annulate