Single life annuity

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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 ?
Single-life annuities without any provisions for spouses or survivors are not as common as period certain options and joint-and-survivor annuities, both of which provide some spousal protection.