Life annuity

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Related to Lifetime Annuity: immediate annuity, 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 ?
Prizes in Canadian dollars for the Gagnant vie game range from $4 to the grand prize -- the $1 million one-time payout or the $1,000 weekly lifetime annuity. Although the odds of winning something are about 1 in 2.5, the chances of taking home the top prize are only about 1 in 6 million, according to the lottery.
Once you buy a Lifetime Annuity it can never be changed so you should always seek financial advice.
The benefit is payable as a lifetime annuity, but a member can select optional forms of payment, including a lump-sum distribution with reduced annuity.
A Lifetime Annuity is currently the most popular way to utilise a pension fund to generate an income in retirement.
Under the Timothy Cole Compensation Act, inmates who are freed from jail after being found innocent of the crimes for which they were convicted are entitled to $80,000 for each year of wrongful imprisonment, plus a lifetime annuity. Graves filed a claim with Texas Comptroller Susan Combs after he was released, but she denied it, saying the order releasing Graves did not have the correct wording to entitle him to compensation.
There are actually 10 products available in the market but two currently dominate - the lifetime annuity and income drawdown.
The GMIB guarantees a minimum value that can be converted to a fixed monthly benefit under a traditional lifetime annuity. This minimum value cannot be withdrawn but will not decrease for withdrawals from the account balance that do not exceed a certain amount.
The lawyers in many counties treat their judges as if the judges have a lifetime annuity to the job.
A Senate bill could provide a 50 percent tax exclusion on up to $40,000 in annual income from a non-qualified lifetime annuity.
However, the AICPA is concerned about provisions (1) used to calculate the exclusion percentage for lifetime annuity payments; (2) allowing additional nonelective contributions or midyear changes in savings incentive match plans for employees (SIMPLEs); (3) permitting reverse-match salary reduction contributions to simple employee plans (SEPs); and (4) requiring a quarterly notice to qualified plan participants and beneficiaries.