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Also known as a Period Certain Annuity. Fixed Period Annuity is a term used to describe a specific payout option for an Immediate Annuity contract. When an annuity distribution period begins or the annuitization begins, the annuitant can choose distributions over a fixed period of time.
BREAKING DOWN 'Paid-Up'. For example, when an investor buys stock, he/she is given three days to pay (known as the three-day settlement period).If the investor does not pay the balance owing for the purchase by day three, the brokerage has the right to liquidate the holdings until the balance is paid-up, or paid in full.REAKING DOWN 'Paid-Up'. For example, when an investor buys stock, he/she is given three days to pay (known as the three-day settlement period).