life annuity


Also found in: Dictionary, Legal, Wikipedia.
Related to life annuity: Single life annuity

Life annuity

An annuity that pays a fixed amount for the lifetime of the annuitant.

Life Annuity

A fixed or variable annuity that pays a certain monthly or (rarely) annual sum for life of the annuitant. Generally speaking, an annuitant buys a life annuity and makes installment payments for it throughout his/her working life. Following retirement, the annuitant begins to receive the benefit, the amount of which may or may not be fixed in the annuity contract. A life annuity is designed to provide a stable income for the annuitant in retirement. See also: Income annuity, Pension, IRA, 401(k).

life annuity

A stream of payments intended to continue during the annuitant's lifetime and to cease automatically at the annuitant's death.
References in periodicals archive ?
As compensation (also as a partial rent compensation), the insured is paid interest on [S.sub.[xi]] of [i-S.sub.[xi]] until death, in addition to the life annuity [p.sub.[xi]].
For level-premium life insurance, the premiums are an asset cash flow match to the life annuity payments, also providing a hedge against investment risks.
In order to analyze the actuarial present value of this class of annuities, we first consider the whole life annuity payable continuously at the rate of 1 per year.
Answer: A temporary life annuity is one which provides for fixed payments until the earlier of the death of the annuitant(s) or the end of a specified number of years.
If a participant's surviving spouse is not a QLAC beneficiary, or is not the sole beneficiary, the contract may provide a life annuity to a designated beneficiary only if one of the following two conditions is satisfied.
* Retirees in poor health were less likely than healthier counterparts to select a life annuity, indicating that a person's perceived longevity impacts investment choices.
Earlier this week, a Dispatches investigation by Channel 4 highlighted the case of Frank Adams, who was sold a single life annuity by Scottish Life.
He explains that a single life annuity is payable throughout life just for yourself and, with a joint life annuity, up to 100% of your income can be paid to a spouse or civil partner after you die.
Single Life Annuity for life with return of purchase price (ROP) payable on death - A fixed amount, guaranteed at the policy inception, will be paid to the annuitant throughout his life.
14 June 2013 - Lincoln Benefit Life Co, the life annuity business of US insurer Allstate Corp (NYSE:ALL), has attracted bidders including UK financial services provider Resolution Group and buyout firms TPG Capital LP and JC Flowers & Co LLC, two insiders told Reuters.
You could also buy a purchased life annuity, where the majority of the income is classed as return of capital.
Income stream payments--Clients receive the greater of the guaranteed amount or amount based on Symetra's then-current single life annuity rates.

Full browser ?