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LSDefine

Simple English definitions for legal terms

immediate annuity

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A quick definition of immediate annuity:

An immediate annuity is when someone pays a lump sum of money to an insurance or investment company and in return, they receive regular payments for a certain period of time. These payments stop when the person dies. There are different types of annuities, such as fixed annuities that guarantee a set payment, and variable annuities that depend on investment performance. An annuity can be used as a retirement income source.

A more thorough explanation:

An immediate annuity is a type of annuity that begins to pay benefits within the first payment interval. It is paid for with a single premium, and the payments terminate upon the death of the designated beneficiary. An annuity is an obligation to pay a stated sum, usually monthly or annually, to a stated recipient.

For example, if someone purchases an immediate annuity with a lump sum of $100,000, they will begin receiving regular payments immediately. The amount of the payments will depend on the terms of the annuity contract, such as the length of the payment period and the age of the annuitant.

Immediate annuities are often used as a retirement income source. They provide a guaranteed stream of income for life, which can help retirees manage their finances and plan for the future.

immatriculation | immediate breach

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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