Single life annuity


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Related to Single life annuity: immediate annuity, Lifetime Annuity

Single life annuity

An annuity covering one person. A straight life annuity provides payments until death, while a life annuity with a guaranteed period provides payments until death or continues payments to a beneficiary for a guaranteed term, such as ten years.

Single Life Annuity

An annuity that only provides payments to one person. That is, payments cease when the annuitant dies. This contrasts with other annuities that make a lump sum payment to the annuitant's survivors, or continue payments to them for a certain number of years.
References in periodicals archive ?
1) On a unisex basis, the annual initial benefit on a joint and 50% to surviving spouse is $72,000, while a single life annuity on the retiree would net $78,000 annually.
See Appendix K for valuation tables and examples of calculating a single life annuity.
This is $22,663 less than the $94,796 payment for a single life annuity for a 60-year-old client.
However, now is not necessarily a good time for annuity rates, as a male aged 65 purchasing with pounds 10,000 a single life annuity guaranteed for five years, would receive around pounds 893 per year income, as opposed to pounds 916 p.
The tax was paid by the estate on excess retirement accumulations, which were defined as the excess of the present value of the decedent's interest in all qualified retirement plans over the present value of a single life annuity with annual payments equal to the annual excess retirement distribution limit.
The excess accumulation tax is paid by beneficiaries on inherited pension assets that exceed the value of a single life annuity paying out $155,000 a year for someone with the life expectancy of the deceased.
The survivor joint annuity works in a slightly different manner than a single life annuity.
4 million participants in defined benefit plans who opt to receive benefits in a form other than single life annuity are also affected by the rulings, because conversions between benefit forms are now done on a unisex basis.
For defined benefit plans, this specified minimum benefit results from calculating the accrued benefit of a single life annuity at an accrual rate of .
The payout annuity in all cases assumes a 65 year old retiree, single life annuity with 10 years guaranteed, 4% rate of return, and the mortality assumptions used in computing current total income under TIAA pension payout annuities.
The most simple type of annuity offers an income to you alone; a single life annuity that pays you a fixed income until you die.

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