Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

ordinary annuity

Read a random definition: mainpernable

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
LSD+ is ad-free, with DMs, discounts, case briefs & more.