What is the term for the person named in the annuity contract to potentially receive any residual benefits?

In the context of an annuity contract, the term for the person designated to receive any residual benefits is "Beneficiary." The beneficiary is the individual or entity named in the contract who will collect the benefits in the event of certain conditions being met, such as the death of the annuitant or the maturity of the annuity. This designation ensures that the benefits are passed on according to the wishes of the contract holder, providing a way to support heirs or other beneficiaries financially.

The other terms have distinct roles that do not relate directly to the residual benefits of the annuity. An "Administrator" typically refers to an individual or entity responsible for managing the annuity's record-keeping and administration but doesn't receive benefits directly. An "Assignee" is someone to whom rights or benefits of the annuity have been transferred but does not necessarily indicate entitlement to residual benefits. The "Contract holder," also known as the annuitant, is the person who owns the annuity and may or may not be the same individual as the beneficiary. Thus, the correct term for the individual entitled to receive the residual benefits specified in the annuity contract is indeed the beneficiary.