Meaning of the word annuitant in English

What does annuitant mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

annuitant

US /əˈnjuː.ɪ.tənt/
UK /əˈnjuːɪtənt/

Noun

a person who receives an annuity, especially from a life insurance policy

Example:
The retired teacher became an annuitant, receiving regular payments from her pension plan.
As an annuitant, he was assured of a steady income for the rest of his life.