life annuity


Annuity that continues to pay out as long as the annuitant is alive.

Use life annuity in a sentence

A life annuity provides a guaranteed lifetime stream of income, but given their long durations, are very exposed to interest rate risk.

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The lottery ticket said, win for life, and it was true. Since it was a life annuity, it would continue to pay out as long as the person was alive.

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Even though he was turning 100, his life annuity kept making monthly payments to him and he was relieved to have that sort of addition to social security payments.

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adjusted premium joint and survivor annuity