Which of the following is NOT a term used for the duration in which income is received by an annuitant or beneficiary?

The term "depreciation period" is not applicable when discussing the duration in which income is received by an annuitant or beneficiary. In the context of annuities, the focus is on the specific phases of receiving periodic payments, which are typically described using terms like "annuitization period," "pay-out period," and "liquidation period." These terms reflect the stages where funds accumulated in an annuity are converted into a stream of income.

The "annuitization period" refers to the time frame during which the annuity converts its accumulated value into a series of periodic payments. The "pay-out period" is often synonymous with this concept, emphasizing the time over which payments are made to the annuitant. Meanwhile, the "liquidation period" highlights the process where the annuity's value is utilized for payout purposes.

In contrast, "depreciation period" generally pertains to the allocation of the cost of an asset over its useful life in accounting contexts, which is unrelated to how annuities function in providing income to recipients. Therefore, among the choices given, this term correctly does not relate to income distribution from an annuity.