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Simple English definitions for legal terms

life-income period-certain annuity

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A quick definition of life-income period-certain annuity:

An annuity is a type of payment plan where someone agrees to pay a certain amount of money to another person on a regular basis. This can be monthly or yearly, and it usually stops when the person receiving the payments dies. There are different types of annuities, such as those that pay for a certain number of years even if the person dies, or those that pay to a surviving spouse after the original recipient dies. An annuity can also be used as a retirement savings account, where money is put in tax-free and then paid out during retirement.

A more thorough explanation:

A life-income period-certain annuity is a type of annuity that guarantees a specified number of payments, even if the annuitant dies before the minimum amount has been paid. An annuity is an obligation to pay a stated sum, usually monthly or annually, to a stated recipient. These payments terminate upon the death of the designated beneficiary.

For example, suppose John purchases a life-income period-certain annuity that guarantees payments for 10 years. If John dies before the 10-year period is up, his beneficiary will continue to receive payments until the end of the 10-year period. This type of annuity provides a level of security for the annuitant and their beneficiaries.

Life-income period-certain annuities are often used as a retirement income source. They provide a guaranteed income stream for a specified period, which can help retirees plan their finances.

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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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