Question

A contingent annuity in which the payments continue as long as a certain person
is alive.
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Answer 1

Certain and Continuous Only

An annuitant doesn't have to attach a life contingency when they annuitize. Instead, they can choose a specific period of time for the payments to occur. For example, a 20-year certain and continuous annuity will pay for 20 years, and then payments will stop.

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Answer 2

Answer:

Certain and continuous refers to a type of annuity that guarantees a number of payments, even if the annuitant dies. If the annuitant passes away during the guaranteed period, a specified beneficiary will receive the rest of the payments. Alternatively, if the annuitant outlives the specified number of guaranteed payments, then he or she would continue to receive income payments for life; however, no payments would be available for the beneficiary.