Mortgage Terms: A fixed sum of money payable periodically, usually monthly or annually.
These payments terminate upon the death of the designated beneficiary.

Also, a right, often acquired under a life-insurance contract, to receive fixed payments periodically for a specified duration.

Question

A fixed sum of money payable periodically, usually monthly or annually. 
    These payments terminate upon the death of the designated beneficiary.

Also, a right, often acquired under a life-insurance contract, to receive fixed payments periodically for a specified duration.

Memorable Ladybug · Accepted Answer

Annuity

A fixed sum of money payable periodically, usually monthly or annually. These payments terminate upon the death of the designated beneficiary. Also, a right, often acquired under a life-insurance contract, to receive fixed payments periodically for a specified duration.