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LSDefine

Simple English definitions for legal terms

life annuity

Read a random definition: misapplication

A quick definition of life annuity:

A life annuity is a type of financial agreement where an individual pays a lump sum of money to an insurance company or investment company in exchange for regular payments for the rest of their life. These payments stop upon the death of the individual. It is like a savings account that is established for retirement income. There are different types of annuities, such as fixed annuity, variable annuity, and straight life annuity. An annuity can be a good option for those who want a guaranteed income stream during their retirement years.

A more thorough explanation:

A life annuity is a type of annuity that provides a fixed sum of money payable periodically, usually monthly or annually, to a stated recipient. The payments continue until the death of the designated beneficiary. It is a right, often acquired under a life-insurance contract, to receive fixed payments periodically for a specified duration.

For example, if someone purchases a life annuity, they may receive a fixed monthly payment for the rest of their life. If they pass away, the payments stop, and the insurance company keeps the remaining funds.

There are different types of annuities, such as:

  • Fixed annuity: An annuity that guarantees fixed payments, either for life or for a specified period.
  • Variable annuity: An annuity that makes payments in varying amounts depending on the success of investment strategy.
  • Deferred annuity: An annuity that begins making payments on a specified date if the annuitant is alive at that time.
  • Immediate annuity: An annuity paid for with a single premium and that begins to pay benefits within the first payment interval.

These examples illustrate the different types of annuities that exist and how they work. A life annuity is just one type of annuity that provides a fixed income for life.

lieutenant governor | life-care contract

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BulbasaurNoLikeCardio
12:10
*shouldnt be
12:12
@jackfrost11770: if i get a berk A today and they have that logo im withdrawing (/s /s /s /j /j /j)
babycat
12:12
@ChowieBean: me too lol. you applying to public interest scholars program?
12:14
yes def applying public interest
12:16
i was raised like blocks away from umiami
12:16
idk if i wanna go back to florida tho so im applying there as safety/target 💀
12:25
@ChowieBean: doing the same thing
Does anyone think au gonna get back to us today
My app was complete Oct 11
If yes what time
Dkk
12:29
Sure, yes! 11:22:24 PST
ClassyPleasantHeron
12:30
I wonder if Berk was updating their system so that they could watch more video.
1a2b3c4d26z
12:41
They updated it so they could watch my video one trillion times
brookyln law portal just added person id and application id for me, what does it mean??
Dkk
12:52
@VolatileClumsyAcolyte: well someone got an A so maybe an A
just checked the reddit, apparently it means nothing..
HAPPY FRIDAY HAPPY UCLA DAY
what time would they release cuz west coast
BulbasaurNoLikeCardio
12:54
I hate that Vanderbilts portal gives no status
HopefullyInLawSchool
12:54
@VolatileClumsyAcolyte: did you apply YM to Brooklyn?
JumpySubsequentDolphin
12:57
@SplitterusClitterus: THEY BETTER HAVE AN A WAVE TODAYYY
glovediedthisishismom
12:57
kendrick lamar
glovediedthisishismom
12:57
album
JumpySubsequentDolphin
12:57
I think usually they release at like 1ish?
JumpySubsequentDolphin
12:57
@glovediedthisishismom: GNXXXX
babycat
12:59
I heard if you apply YM at Brooklyn specifically it’s the equivalent of like a 5 LSAT point boost
HopefullyInLawSchool
13:00
^^^^This
13:00
does anyone have any information on lsu? I have only heard of 1 person getting a decision and its driving me insane
HopefullyInLawSchool
13:01
Just info on their YM applications but nothing else
HopefullyInLawSchool
13:02
@BeFree03:
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