Substandard Health Annuity
An insurance product that can be purchased by a person with a serious, demonstrable health problem which will likely shorten the annuitant's life expectancy. A substandard health annuity is a type of straight life annuity.
Investopedia Commentary
These annuities pay out more money per period than other straight life annuities because the length of the annuitant's life is expected to be significantly shorter than that of the average, healthy person of a similar age.
Related Links
An Overview Of Annuities
Selecting The Payout On Your Annuity
Exploring Types Of Fixed Annuities
See also: Annuitant, Beneficiary, Life Expectancy, Long-Term Care (LTC) Insurance, Straight Life Annuity, Term Certain Annuity
Also spelled: Substandard Health Annuities, Substandard-health Annuity, Substandard-health annuities