Also known as pay-out period, annuitization period, or liquidation period; the time during which the sum accumulated during the accumulation period is converted into a stream of income payments to the annuitant.

Also known as pay-out period, annuitization period, or liquidation period; the time during which the sum accumulated during the accumulation period is converted into a stream of income payments to the annuitant.

• A. Date of annuitization
• B. Annuity period
• C. Single premium
• D. Accumulation period

Answer: (B)

The moment when money built up during the saving phase becomes a regular income stream is called the annuitization period. This phase turns the accumulated value into ongoing payments to the annuitant, whether for a set number of years or for life, depending on the chosen options. The date of annuitization marks when payouts begin, but the period itself is the entire payout phase. The accumulation period is the earlier stage where funds grow, and a single premium describes paying all at once, not the payout period.

The moment when money built up during the saving phase becomes a regular income stream is called the annuitization period. This phase turns the accumulated value into ongoing payments to the annuitant, whether for a set number of years or for life, depending on the chosen options. The date of annuitization marks when payouts begin, but the period itself is the entire payout phase. The accumulation period is the earlier stage where funds grow, and a single premium describes paying all at once, not the payout period.