single-life annuity

Definition

An annuity that provides income benefits for one person only.

Use single-life annuity in a sentence

Nick had to sign for a single-life annuity to his social security benefits after the messy divorce with his wife last year.

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The single-life annuity that Mason took out would be of no assistance to his wife if he were to suddenly pass away and this was a source of concern.

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The husband and his lawyer sat down and had a long talk about the future event of his death and whether he would split his fortune between his wife and son or just leave his son a single-life annuity.

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