Life annuity

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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 ?
As mentioned, the 3.8% tax is in conflict with President Obama's Middle Class Task Force and its promotion of income annuities, she says, also pointing to Treasury and the Department of Labor's request for information on the benefits of lifetime annuities in defined contribution plans.
The study recommends educational programs for the Hispanic American community emphasizing alternative retirement savings options, such as lifetime annuities, which can help build retirement savings and guarantee secure future incomes.
For a free guide to Lifetime Annuities please call 0800 544644.
Improved access to lifetime annuities also weakens this GLWB "advantage."
"For example," David Rooney, CPA, told the Journal, "if a 401(k) plan allows only for lump-sum, 10-year installments or lifetime annuities, you can't have a QDRO calling for monthly payments to a spouse." Rooney, a partner of Rooney, Plotkin & Wiley in Newport, Rhode Island, consults frequently with lawyers who draft QDROs for their clients.
Financed on a quasi-pay-as-you-go basis, the program grew in size and scope in the decades that followed, delivering lifetime annuities to a broader and broader segment of the population at a fraction of the true cost - and piling up larger and larger liabilities to be met by younger generations.
LIFETIME annuities have always been a popular choice for retirees seeking a guaranteed source of income for life.
With lifetime annuities, you have certainty of income but you remove the flexibility of adapting your retirement to your changing circumstances.