What does the term period certain 96 mean?

The term "period certain 96" typically refers to a specific type of annuity or insurance product that provides guaranteed payments for a set period of 96 months, or 8 years. During this time, the policyholder or beneficiary receives regular payments, regardless of whether they are alive or deceased, ensuring a fixed income stream for that duration. After the 96-month period, payments may cease, or the terms may change based on the specific product agreement.