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life annuity

noun, Insurance.
1.
any annuity that is contingent upon the survival of the annuitant or annuitants, especially an annuity that terminates with the death of a single annuitant.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for life annuity
  • If you want a life annuity that pays benefits to a survivor, or joint annuitant, you have that option as well.
  • The single life annuity amount is payable to you for life.
  • The maximum guarantee is adjusted to reflect annuity forms other than a single-life annuity.
  • The life annuity amount will be actuarially reduced to offset the lump sum payment.
  • Joint life annuity with cash refund, and the joint life annuitant dies before the participant.
  • Subsequent deferral election rule-change in form of payment from one life annuity form to another life annuity form.

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