life annuity

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Life annuity

An annuity that pays a fixed amount for the lifetime of the annuitant.

Life Annuity

A fixed or variable annuity that pays a certain monthly or (rarely) annual sum for life of the annuitant. Generally speaking, an annuitant buys a life annuity and makes installment payments for it throughout his/her working life. Following retirement, the annuitant begins to receive the benefit, the amount of which may or may not be fixed in the annuity contract. A life annuity is designed to provide a stable income for the annuitant in retirement. See also: Income annuity, Pension, IRA, 401(k).

life annuity

A stream of payments intended to continue during the annuitant's lifetime and to cease automatically at the annuitant's death.
References in periodicals archive ?
Higher stock market returns tend to dampen demand for life annuities, suggesting that some PERS retirees may overvalue the projected investment returns a lump sum will generate.
Suffolk Life Annuities Limited does not believe it has a notifiable interest in Capital Gearing Trust Plc, as explained in a letter sent to the company secretary (TMF Nominees Limited).
CANNEX compiles ongoing quotes from, what I believe to be, most insurance companies in Canada that market and sell life annuities.
65], other than that it represents one of the most popular life annuities purchased (and quoted) in practice.
And, if the typical (or average) insurance company prices life annuities using a static mortality table and based solely on the yield of a bond with a fixed duration, then deviations in [delta] over relatively short periods of time would be fully explained by changes in that particular bond yield, perhaps plus a random error term.
Enhancing the support we offer to bank representatives who sell New York Life annuities strengthens our position as market leader and showcases the strengths that have distinguished New York Life for generations - including the range and quality of our product offerings as well as excellence in customer service," said John Meyer, senior vice president, New York Life.
The Retirement Income Specialists will add to the success of the current wholesaling team who will continue to provide bank representatives with products, marketing support and sales training for the entire family of New York Life annuities distributed through banks.
The Minnesota Life Distributors web site provides all the information a financial advisor needs to sell Minnesota Life annuities, market them, and provide service to clients.

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