An annuity that promises a fixed number of payments over its lifetime. This is true if the party lives past the payment number required. If they die a beneficiary gets the payments until the contract is fulfilled. AKA life annuity certain and life anniuty
More On This Topic
Link to This Definition
Did you find this definition of ANNUITY CERTAIN helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary