life annuity

(redirected from Lifetime Annuities)
Also found in: Dictionary, Legal.
Related to Lifetime Annuities: immediate annuity

Life annuity

An annuity that pays a fixed amount for the lifetime of the annuitant.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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).
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

life annuity

A stream of payments intended to continue during the annuitant's lifetime and to cease automatically at the annuitant's death.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Those who live longer on lifetime annuities will also receive more income over their lifetimes and, all else being equal, they'll end up with higher legacy amounts.
Standard lifetime annuities are currently paying close to historically low levels which is encouraging more people to look at alternative strategies, such as delaying purchase of a lifetime annuity by using a fixed-term annuity or by seeking to keep growing the pension pot through investment-linked options.
Many retirement policy experts have been promoting use of inflation-indexed, fixed, lifetime annuities to help boomers fund retirement expenses.
In the "red corner" we have the historic champions, the big insurance companies who have dominated the retirement income market for many years through sales of lifetime annuities.
This is particularly important at a time when the income paid by lifetime annuities is at its lowest for many decades and once bought, there is no escape.