Annuitant is the person whose life expectancy and age are used to determine the payout amounts of an annuity contract. In many cases, the annuitant and the contract owner are the same person, but they can be different, especially in planning scenarios involving trusts or business entities. The annuitantTMs age, gender where allowed, and life expectancy drive the calculation of income payments when an annuity is annuitized or when certain lifetime income riders are activated. If the annuitant dies, payment terms may change depending on the payout option selected, such as life with period certain, joint and survivor, or installment refund. Because the annuitant is central to benefit calculations, carriers often require underwriting for medically underwritten or impaired-risk annuities.

Advisors explain the role of the annuitant when helping clients structure annuity contracts for retirement income, spousal protection, or legacy goals. They clarify the distinctions between owner, annuitant, and beneficiary, and how each affects control, taxation, and payout continuity. In trust-owned or charitable arrangements, the annuitant may be a different individual than the owner, requiring careful coordination with legal counsel. Beneficiary payout rules after the annuitantTMs death are governed by contract language and, for qualified annuities, by post-SECURE Act distribution rules. Understanding the annuitant concept allows advisors to design annuity strategies that match the intended life on which income is based, while also addressing control, tax, and successor-beneficiary considerations.