Life annuity

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Related to Life annuity: Single life annuity

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

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Retirees in poor health were less likely than healthier counterparts to select a life annuity, indicating that a person's perceived longevity impacts investment choices.
He explains that a single life annuity is payable throughout life just for yourself and, with a joint life annuity, up to 100% of your income can be paid to a spouse or civil partner after you die.
A PS40,000 pension pot pays PS2,434 yearly income with a single life annuity, compared to PS2,226 with a joint life - PS200 difference.
Assume that the contract holder is age 58, and purchases an annuity for $100,000, electing to receive a life annuity paying $550 per month for life with payments guaranteed for 20 years (i.
A plan may explicitly state from the plan's inception that each installment payment, other than an installment payment under a life annuity, is treated as a separate payment.
In scenarios 3 and 4, the client ladders into, respectively, a life annuity and a life annuity with 20-year period certain.
I use age 65--with a 10-year period certain--compared against the same annuity at age 75 as the standard benchmark for the index, and calibrate to a comprehensive time series of weekly (Canadian) life annuity quotes from 2000 through 2004.
It results in the remainder of annuity applicants in the open market taking standard rates actually being healthier lives that are not eligible for an impaired life annuity.
By providing a stable source of income, a fixed life annuity can substitute for the cash or bond part of a retiree's portfolio, the authors found.
Employer Y establishes in 1996 a nonaccount balance plan under which participants are entitled to receive, at age 65, a life annuity equal to two percent of "final average earnings" for each year of service.
When faced with this choice, clients can pick the higher-paying life annuity option and use life insurance to provide survivorship benefits at the retiree's death.

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