What does life annuity mean?
Definitions for life annuity
life an·nu·ity
This dictionary definitions page includes all the possible meanings, example usage and translations of the word life annuity.
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Wikipedia
Life annuity
A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. A life annuity is an insurance product typically sold or issued by life insurance companies. Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a form of longevity insurance, where the uncertainty of an individual's lifespan is transferred from the individual to the insurer, which reduces its own uncertainty by pooling many clients.
Numerology
Chaldean Numerology
The numerical value of life annuity in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of life annuity in Pythagorean Numerology is: 1
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"life annuity." Definitions.net. STANDS4 LLC, 2024. Web. 30 Apr. 2024. <https://www.definitions.net/definition/life+annuity>.
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