Substandard Health Annuity

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Substandard Health Annuity

An annuity one may buy if he/she has a health problem likely to significantly shorten his/her life. A substandard health annuity pays a higher amount to the annuitant each month because the annuitant is likely to die sooner. It may or may not cost more than other annuities that pay lower amounts each month. It is a straight life annuity and therefore does not pay a death benefit.