In an individual annuity, who typically makes the purchase payments?

In an individual annuity, the owner is typically responsible for making the purchase payments. The owner of the annuity is the person who sets up the contract with the insurance company and has control over the annuity, including the ability to make premium payments. This role is distinct from that of the annuitant, who is often the individual whose life is used to determine the annuity's payment schedule, and the beneficiary, who is the person designated to receive benefits upon the death of the annuitant.

While the annuitant may also be the owner, it is the owner's responsibility to make the payments for the annuity. Therefore, it is accurate to say that the owner typically makes the purchase payments for an individual annuity.