Article / Updated 03-26-2016
All annuity contracts share the same basic DNA. The following sections describe the participants who have a hand in all the annuities you'll run across. The owner The owner of an annuity is just that — the owner. This person Pays the premiums Signs the application Agrees to abide by the terms of the contract Decides who the other parties of the contract will be Can withdraw money or even sell the annuity (depending on the type of contract or the stage it's in) Is liable for any taxes that are dueTwo people can own an annuity contract jointly.