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LSDefine

Simple English definitions for legal terms

ordinary annuity

Read a random definition: collatione facta uni post mortem alterius

A quick definition of ordinary annuity:

An ordinary annuity is when someone agrees to pay a certain amount of money to someone else every year or month. This usually stops when the person receiving the money dies. An annuity can also be a savings account for retirement. There are different types of annuities, like a fixed annuity that guarantees a certain amount of money, or a variable annuity that depends on how well investments do. Some annuities continue to pay out to a person's spouse after they die, while others only pay out during the person's lifetime.

A more thorough explanation:

An ordinary annuity is a type of annuity that makes payments at the end of each pay period. It 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, if someone purchases an ordinary annuity that pays $1,000 per month for 10 years, they will receive $1,000 at the end of each month for 10 years. If the annuitant dies before the 10-year period is up, the payments will stop and the remaining balance will not be paid to their beneficiaries.

Another example of an ordinary annuity is a mortgage payment. A homeowner makes monthly payments to the lender, and each payment includes both principal and interest. The interest portion of the payment is an example of an ordinary annuity because it is paid at the end of each month.

Overall, an ordinary annuity is a type of financial product that provides a fixed income stream over a specified period. It is important to understand the terms and conditions of an annuity before purchasing one to ensure it meets your financial needs.

ordinary and necessary expense | ordinary assembly

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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