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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.
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Everyone who did not surrender their Executive Life annuity eventually got back at least their principal and contractually guaranteed interest.
Annuity holders need not fear carrier failure by Marrion, Jack / Senior Market Advisor
The purchase of a $60,000 life annuity paying as long as at least one member of the couple lives.
The overly cautious retiree: damned either way by Greenwald, Mathew / Boomer Market Advisor
Another alternative is a Purchase Life Annuity which will give you a guaranteed level of income which will be quite attractive for somebody of your age.
Q& A; Your money queries are answered by Peter Rutherford, senior ... by The Journal (Newcastle, England)
 
 
 
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