Which of the following terms is not the same for both life insurance and annuities?

The term "Annuitant" is specific to annuities, distinguishing it from the other terms which apply to both life insurance and annuities. The annuitant is the individual who receives the benefits from the annuity, typically after the accumulation phase, and this role is not present in life insurance. In life insurance, the focus is primarily on the insured, who is the person whose life is covered by the policy.

On the other hand, terms like "Owner," "Beneficiary," and "Insurer" are relevant to both life insurance and annuities. The owner is the person who has the rights to the policy, the beneficiary is the individual who receives the benefit upon the insured’s death in life insurance or the annuitant's passing in an annuity, and the insurer is the company providing coverage or the benefits. Thus, "Annuitant" stands out as the unique term associated specifically with annuities, making it the term that does not align with life insurance in meaning.