what is a years certain annuity 
a years certain annuity is a retirement income product that pays the holder a continuous periodic income generally monthly for a specified number of years like all annuities it is used to provide a steady income during retirement however what makes a years certain annuity unique is that it provides that income for a predetermined length of time regardless of how long the annuitant lives this differs from a life annuity which provides payouts for the remainder of the annuitant s life and in certain cases the life of the annuitant s spouse a years certain annuity may also be referred to as a period certain annuity annuity certain fixed period annuity or a guaranteed term or guaranteed period annuity 