Straight life


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Straight Life

An annuity or other insurance plan that provides the policyholder with monthly payments for the remainder of his/her life. After death, however, the payments cease, and the policyholder does not name a beneficiary. Like all annuities, one may buy the plan with a lump sum or with a series of payments over a number of years, usually ending around retirement. Straight life policies are usually less expensive than other annuities because they end in one's death, which is presumably before the death of one's spouse, children, and other beneficiaries. However, they provide fewer services, notably a widow's benefit.

Straight life.

A straight life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums. This traditional life insurance is sometimes also known as whole life insurance or cash value insurance.

With a straight life policy, a portion of your premium pays for the insurance and the rest accumulates tax deferred in a cash value account.

You may be able to borrow against the cash value, but any amount that you haven't repaid when you die reduces the death benefit.

If you end the policy, you get the cash surrender value back, which is the cash value minus fees and expenses. However, ending the policy means you no longer have life insurance and no death benefit will be paid at your death.

References in periodicals archive ?
While a straight life annuity will result in the highest total annual payments to the annuitant, it is rarely the best choice, because the risk of losing one's investment before recovering the principal is too much of a psychological barrier during the purchase process.
At the same time, otherwise clever junkies allow their judgment to be clouded by illusions, like Bob's superstitions or Dianne's inversion of values (the junkie life is sensible, the straight life is crazy, she says).
Although alto saxophonist Art Pepper's life was a pitiable shambles when this session was booked (this is discussed in his autobiography, Straight Life, which I recommend highly to jazz fans), the combination of Pepper's energetic, melodic alto and the crack 1957 Miles Davis rhythm section (Red Garland on piano, Paul Chambers on bass, and Philly Joe Jones on drums) resulted in a jazz album for the ages.
But putting on a pink triangle or carrying a rainbow flag in public once a year--in a city you don't live in--with hundreds or thousands of others and then returning to one's seemingly straight life for the rest of the year is hardly "coming out of the closet.
They were her lifeline to Christ and community and a straight life," says Bollis.
I didn't feel that it was really any different than another prejudice that I might find in the straight life.
For in Sparta, he was very paynefull, and in continuall exercise: he lived sparingly with litle, and led a straight life.
50 monthly) for a person who retires at age 65 and receives a straight life annuity.
Typically, the acquisition of a straight life annuity covering the annuitant's life will not give rise to an estate inclusion.
Bennett, who currently resides in Boulder, CO, used the day's best bike and the day's best run to secure his third straight Life Time Fitness Triathlon Series Title.
Police have not identified the victim but one local said: "He was a good Muslim, he led a straight life and kept himself healthy.
In many ways the effects are no different from those on straight life.