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 California physician-assisted dying law, known as the End of Life Option Act, which became effective in 2016, has policies which are very different from the Ontario policies.
The End of Life Option Act requires patients to submit three requests to the physician before they are given the medication.
4, 2018 (HealthDay News) -- The decision to overturn the End of Life Option Act has added stress and anxiety to terminally ill patients, including those with amyotrophic lateral sclerosis (ALS), according to a patient testimonial published online Sept.
As a result, the California End of Life Option Act is not in effect until further notice.
For some patients the better life option may be to keep their prostate.
Judge Daniel Ottolia of Riverside County Superior Court ruled that the California Legislature violated existing law when it passed the End of Life Option Act during a special session dedicated to health care.
On Tuesday, though, a Riverside County judge overturned the state law, the End of Life Option Act, because it was illegally passed during a special session dedicated to healthcare issues.
Andrew Kutitila will lose all the benefits of controlling the party as he will be an ordinary member with the life option, if he subscribes to a Sh20,000 fee.
Life Option - Sum assured paid on death or on diagnosis of Terminal illness as lump sum benefit to the nominee and the policy terminates.
Then last fall came the surprising passage of California's End of Life Option Act, giving terminally ill adults with 6 months to live the right to request lethal medication to end their lives.
It's now legal in five states, with California's new End of Life Option Act set to take effect in June.
Brown, a former Jesuit seminary student, approved the End of Life Option Act Oct.