Which term refers to the units received by an annuitant in an annuity plan?

The term that refers to the units received by an annuitant in an annuity plan is "annuity units." When an individual invests in an annuity, the contributions are converted into annuity units at the time of annuitization. These units represent the amount of the investment in the annuity and are used to determine the periodic payments the annuitant will receive.

Annuity units fluctuate in value based on the performance of the underlying investments within the annuity. As the value of these units changes, the payments made to the annuitant will also change, particularly in variable annuity plans. The conversion of the investment into annuity units is a critical step in the annuity process, as it affects the future cash flow that the annuitant can expect to receive.

Other terms listed, such as annuity values, capital shares, and policy dividends, do not accurately define the specific concept of units received in this context. Annuity values are more generalized and might refer to the overall worth of the annuity, while capital shares typically pertain to ownership in a company and are not related to annuities. Policy dividends relate more to certain insurance policies and are not synonymous with annuity payments.