Straight life

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Straight Life

An annuity or other insurance plan that provides the policyholder with monthly payments for the remainder of his/her life. After death, however, the payments cease, and the policyholder does not name a beneficiary. Like all annuities, one may buy the plan with a lump sum or with a series of payments over a number of years, usually ending around retirement. Straight life policies are usually less expensive than other annuities because they end in one's death, which is presumably before the death of one's spouse, children, and other beneficiaries. However, they provide fewer services, notably a widow's benefit.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Straight life.

A straight life insurance policy is a type of permanent insurance that provides a guaranteed death benefit and has fixed premiums. This traditional life insurance is sometimes also known as whole life insurance or cash value insurance.

With a straight life policy, a portion of your premium pays for the insurance and the rest accumulates tax deferred in a cash value account.

You may be able to borrow against the cash value, but any amount that you haven't repaid when you die reduces the death benefit.

If you end the policy, you get the cash surrender value back, which is the cash value minus fees and expenses. However, ending the policy means you no longer have life insurance and no death benefit will be paid at your death.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
New Study On "2019-2025 Straight Life Insurance Market Global Key Player, Demand, Growth, Opportunities and Analysis Forecast" Added to Wise Guy Reports Database
While a straight life annuity will result in the highest total annual payments to the annuitant, it is rarely the best choice, because the risk of losing one's investment before recovering the principal is too much of a psychological barrier during the purchase process.
However, if the surviving spouse receives a straight life annuity, there is no property interest remaining at his death to be included in his gross estate.
Morgan then fell madly passionately in love with someone who decided to have a straight life. Morgan couldn't bear it and committed suicide by gassing himself."
Howard Marks has turned from world-wanted drug runner to 'an established part of the anti-establishment' but straight life has by no means been easy.
I have heard both gays and straights say that bisexuals can exercise heterosexual privilege and live a straight life, enjoying all the rights that gays don't have.
At the same time, otherwise clever junkies allow their judgment to be clouded by illusions, like Bob's superstitions or Dianne's inversion of values (the junkie life is sensible, the straight life is crazy, she says).
This community approach is particularly important when we remember that the "gay community" is not an unproblematic refuge from straight life for all gay people.
Jack, who has been released from jail, at first makes a go of the straight life but then drives his new faith smack into disaster.
Walter Mosley's Six Easy Pieces follows the unofficial detective's attempts at living a "straight life," replete with a family, a significant other and a steady job where he commands respect.
The program continues with both originals and standards, special highlights being Pepper's signature tune, "Straight Life" (lots of irony in that title ...) and the DePaul/Raye tune, "Star Eyes." The XRCD version closes with a tune not on the original CD, the Gershwins' "The Man I Love."
But putting on a pink triangle or carrying a rainbow flag in public once a year--in a city you don't live in--with hundreds or thousands of others and then returning to one's seemingly straight life for the rest of the year is hardly "coming out of the closet." Attending a gay-pride parade is a low-risk, feel-good endeavor, because the chance of being identified as gay by someone who can negatively affect your life (fire you from a job, evict you from your apartment) is minimal.