Contract Owner Activities
The contract owner goes through the process of purchasing an annuity. The contract owner is generally the person who signs all the paperwork and funds an annuity contract. The contract owner agrees to the terms of an annuity contract.Contract Owner Rights
The contract owner chooses an annuity and makes decisions on all the details – when it starts, how much money goes in, when money comes out, and so on.The contract owner also chooses the beneficiary and the annuitant in an annuity contract. In many cases, the contract owner may choose himself/herself as the annuitant.
If the annuity offers a variety of investment terms and choices, the contract owner also makes these choices.
Contract Owner Restrictions
Of course, the contract owner can only choose from what’s available in a given annuity. Each annuity out there has different options and restrictions. Even though the contract owner gets to make choices, the contract owner may have to pay a fee or penalty for certain actions.Return to the Annuities Overview page.
