Life annuity
Also found in: Dictionary, Financial.(redirected from Single life annuity)
LIFE ANNUITY. An annual income to be paid during the continuance of a
particular life.
A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
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.
Three years ago a 65-year-old man purchasing a
single life annuity with a PS100,000 pension pot could have secured an income of approximately PS7,000 per year.
The amount included is the amount that the same annuity issuer will charge the survivor for a
single life annuity, as of the date of the first annuitant's death.
Not bad going when the provider, which did not sell impaired annuities, had originally offered a
single life annuity of pounds 3,600 a year.
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