A set period of time when an annuitant begins to receive the pre-defined payments from the annuity. This follows an accumulation period where money is invested and put together in order to create the wealth needed for the payments.

Previous Terms: 1031 Exchange, 1035 Exchange, AARP, Abeyance, Abstraction Principle, Accelerated Amortization, Acceptance Credit, Acceptance of a Bill of Exchange, Accommodation Bill, Accommodation Endorser