Life annuity

(redirected from Single life annuity)
Also found in: Dictionary, Financial.
Related to Single life annuity: immediate annuity, Lifetime Annuity

LIFE ANNUITY. An annual income to be paid during the continuance of a particular life.

References in periodicals archive ?
Earlier this week, a Dispatches investigation by Channel 4 highlighted the case of Frank Adams, who was sold a single life annuity by Scottish Life.
The tax was paid by the estate on excess retirement accumulations, which were defined as the excess of the present value of the decedent's interest in all qualified retirement plans over the present value of a single life annuity with annual payments equal to the annual excess retirement distribution limit.
The excess accumulation tax is paid by beneficiaries on inherited pension assets that exceed the value of a single life annuity paying out $155,000 a year for someone with the life expectancy of the deceased.
The survivor joint annuity works in a slightly different manner than a single life annuity.
4 million participants in defined benefit plans who opt to receive benefits in a form other than single life annuity are also affected by the rulings, because conversions between benefit forms are now done on a unisex basis.
For defined benefit plans, this specified minimum benefit results from calculating the accrued benefit of a single life annuity at an accrual rate of .
The payout annuity in all cases assumes a 65 year old retiree, single life annuity with 10 years guaranteed, 4% rate of return, and the mortality assumptions used in computing current total income under TIAA pension payout annuities.
The most simple type of annuity offers an income to you alone; a single life annuity that pays you a fixed income until you die.
The increase to the maximum amount of income a person can withdraw (from 100% of the single life annuity that somebody of the same sex and age could purchase to 120% of that amount) was announced by Chancellor George Osborne in his Autumn Statement of December 2012.
When cashing in pension savings, 61% buy a single life annuity (pension income), yet at age 65, 72% are married.
Also, you can elect for a widow's pension not to be paid, which will increase your single life annuity.
This hypothetical life annuity is calculated as a single life annuity with annual payments equal to $155,000 for 1996.

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