Life income with period certain option

{
  "id": "MLC-T-INS-002005",
  "term": "Life income with period certain option",
  "field": "Insurance and risk management",
  "definition": "A settlement option that provides regular payments for the life of the annuitant or beneficiary, with a guarantee that payments will continue for a specified minimum period, even if the annuitant dies sooner. If the annuitant dies before the end of the guaranteed period, the remaining payments are made to a designated secondary beneficiary. Common period certain options are 10 or 20 years.",
  "url": "https://mlchart.com/terminology/insurance/life-income-with-period-certain-option/"
}