Life annuity

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

References in periodicals archive ?
Demand for life annuities does not correspond to the actuarial value of the lifetime annuity payments, which implies that retirees lack the financial knowledge to compare life annuities to lump sums.
Our paper helps economists better understand the disconnect between economic models which predict that retirees will use their 401(k)s to buy life annuities and the real world where demand for life annuities is quite low," Reuter said in a statement.
I am well aware that there is resistance to life annuities and the loss of liquidity entailed.
The industry has been developing many products intended to provide this guarantee, including lifetime guaranteed withdrawal benefits, deferred life annuities and period-certain annuities with flexible withdrawal options.
Equation (1) might initially seem like "actuarial over kill" compared to traditional annuity pricing formulae; however, our approach is consistent with financial economic pricing of life annuities by allowing for both stochastic mortality and interest.
But the fear is that insurers are compensating by reducing the income they offer to those who fit normal actuarial profiles Total sales of impaired life annuities since 2001 are now approaching pounds 1.
To learn more about life annuities accompanied by a guarantee period, investors may want to read: "Life Annuities: What They're Saying Isn't So," by Mary Pat Campbell and Benjamin Goodman.
PAFS chief executive Chris Rostron said: 'When the society was formed six years ago the market for impaired life annuities was tiny.
New York Life Insurance Company announced today that it is continuing to build on its success in the bank distribution of annuities by adding four new Retirement Income Specialists to the bank wholesaling team for New York Life annuities.
They support policy changes that would encourage workers and retirees to choose retirement vehicles that cannot be outlived, such as life annuities that make steady payments for life - something the bill would help to address.

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