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Business Definition for: life annuity
Dictionary of Finance and Investment Terms
life annuity

annuity that makes a guaranteed fixed payment for the rest of the life of the annuitant. After the annuitant dies, beneficiaries receive no further payments.

Dictionary of Insurance Terms
life annuity
See also annuity
Dictionary of Business Terms
life annuity

annuity that makes a guaranteed fixed payment for the rest of the life of the annuitant. After the annuitant dies, the beneficiaries receive no further payments.

Related Terms:
annuity

series of equal periodic payments or receipts. Examples of an annuity are semiannual interest receipts from a bond investment and cash dividends from a preferred stock. There are two types of an annuity: (1) Ordinary annuity, where payments or receipts occur at the end of the period; (2) Annuity due, where payments or receipts are made at the beginning of the period.

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 Copyright © 2000, 1995, 1991, 1987 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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