Life Option

Life Option

A fixed annuity that pays a certain monthly sum for life of the annuitant. Generally speaking, an annuitant buys a life option and makes installment payments for it throughout his/her working life. Following retirement, the annuitant begins to receive the benefit. A life option is designed to provide a stable income for the annuitant in retirement. Risk is split between the annuitant and the company providing the life option: the annuitant benefits financially if he/she lives for a long time after retirement while the company benefits if he/she dies sooner. See also: Income Annuity, Pension, IRA, 401(k).
References in periodicals archive ?
The authors used universal life Option A (level) with level premiums, but traditional whole life has either rising death benefits (dividends reinvested) or decreasing premiums (dividends in cash or to reduce premiums).
to sell its key products, permanent life insurance policies with a term life option, and endowment policies, from October, the sources said.
1-inch widescreen notebooks include the latest Intel Centrino Pro and Centrino Duo mobile technology, an improved cooling system, longer battery life option, and a new top cover roll cage in addition to the original hard drive magnesium roll cage.
The income for life option, for example, is only one feature to consider when selecting a provider.
Less than a month later, lawmakers passed the End of Life Option Act on Sept.
The bubble wrap is said to provide comparable protective packaging performance to traditional bubble wrap, with the added advantage of being made from certified compostable resin, thereby offering industrial composting as an alternative end of life option.
He chose the joint life option as that means his wife Susan will continue to receive his pension if anything happens to Martin whereas with a single life option his pension would stop.
But our legislature still can-and should-establish additional safeguards for medical aid in dying by passing the End of Life Option Act before its Sept.
The younger and healthier you are, the better the whole of life option is for you.
If the Joint Life option is elected, the contract must be purchased with the spouse as joint owner or the spouse must be designated as the sole, primary beneficiary.
A bipartisan poll last month showed 69 percent of California voters, including 70 percent of Latinos and 60 percent of Catholics, support SB 128, also known as the End of Life Option Act.
The End of Life Option Act now moves to the State Assembly, where it faces two subcommittees before a full assembly vote.