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Life annuity |
Also found in: Financial, Wikipedia | 0.09 sec. |
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LIFE ANNUITY. An annual income to be paid during the continuance of a particular life. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Milliman's pricing assumptions are likely to be different from those of the company in Clements' example, and Milliman is using a joint-and-survivor income benefit that is more costly than a single life annuity. In the following estimates, Galveston's monthly benefit is expressed as a single life annuity for single workers, and as a 2/3 joint-contingent survivor's annuity for married workers. This hypothetical life annuity is calculated as a single life annuity with annual payments equal to $155,000 for 1996. |
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