Definition Of Liquidation Period In Insurance

Definition of "Liquidation period"

Valerie Abercrombie, Real Estate Agent Better Homes and Gardens Real Estate Main Street Properties

Time frame during which an annuitant receives income payments from the insurance company, usually on a monthly basis. The obligations of the company to the annuitant during the liquidation period depend on whether it is a pure or refund annuity. For the pure annuity, all payments cease upon the death of the annuitant. For the refund annuity, a beneficiary is usually entitled to payments upon the death of the annuitant.