Single life annuity(redirected from Single Life Pension)
Single life annuity
An annuity covering one person. A straight life annuity provides payments until death, while a life annuity with a guaranteed period provides payments until death or continues payments to a beneficiary for a guaranteed term, such as ten years.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Single Life Annuity
An annuity that only provides payments to one person. That is, payments cease when the annuitant dies. This contrasts with other annuities that make a lump sum payment to the annuitant's survivors, or continue payments to them for a certain number of years.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved