释义 |
life annuity TranslationsLife annuity Related to Life annuity: Single life annuityLIFE ANNUITY. An annual income to be paid during the continuance of a particular life. life annuity
Life annuityAn annuity that pays a fixed amount for the lifetime of the annuitant.Life AnnuityA 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. |