Who is the individual entitled to receive any residual benefits after the death of the annuitant?

The individual entitled to receive any residual benefits after the death of the annuitant is known as the beneficiary. In an annuity contract, the annuitant is the person on whose life the annuity payments are based, and when that individual passes away, any remaining benefits such as death benefits or residual payments typically go to the designated beneficiary.

The role of the beneficiary is crucial as they are specifically named in the annuity contract to receive these benefits, thereby ensuring that the annuity serves a financial purpose not just for the annuitant during their lifetime, but also as a potential legacy for the beneficiary after the annuitant's death. This arrangement helps to provide peace of mind and financial security to families, knowing that there can be a financial payout following the passing of the primary annuitant.

Other roles such as the insurer, policyholder, and owner do not have the same entitlement to residual benefits after the death of the annuitant in the context presented, as they may represent different aspects of the contract or relationship with the annuity but do not specifically hold the rights to the remaining benefits in the event of the annuitant's death.