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Simple English definitions for legal terms

contingent annuity

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A quick definition of contingent annuity:

A contingent annuity is a type of payment plan that only gives money to the person entitled to it if certain conditions are met. This is often used for life insurance or pensions, where the payment is contingent on the person being alive or deceased. It is different from a contingent annuitant, which is a person who only receives payments if the primary recipient has passed away.

A more thorough explanation:

A contingent annuity is a type of annuity that is dependent on certain conditions or terms that must be met before the beneficiary can receive payments. This type of annuity is commonly used for life insurance and pensions, where the payments are contingent on the person being alive or deceased.

For example, a pension plan may offer a contingent annuity that pays out only if the retiree lives to a certain age. If the retiree dies before reaching that age, the payments would stop. Similarly, a life insurance policy may offer a contingent annuity that pays out only if the insured person dies.

It is important to note that a contingent annuity is different from a contingent annuitant. A contingent annuitant is a secondary annuitant who receives payments only upon the passing of the primary annuitant.

Overall, a contingent annuity provides a way for individuals to plan for the future while also protecting against unexpected events. By understanding the conditions and terms of the annuity, individuals can make informed decisions about their financial future.

contingent | contingent beneficiary

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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