Straight Life Annuity

Typically you buy one and make regular payments during your working life or pay a single lump sum usually after retirement.

Straight life annuity. A straight life annuity is an insurance contract that pays out a series of fixed payments over the life of the owner or annuitant. Most of the payments are monthly and the amount depends on your age and long term interest rates. What is Straight life annuity.

A lifetime annuity guarantees payment of a predetermined amount for the rest of your life. A straight life annuity is an investment contract that make regular payments to the annuitant for the rest of their life. The amount of the payments is determined by the amount of the purchase payment and the annuitants age at the time the payments begin.

Also called straight life or life annuity a single life annuity is a type of annuity thats been structured to guaranteed payments to one individual for the duration of their lifespan. Upon death the payments stop and you cannot designate a beneficiary with this type of insurance. Straight Life Annuity means an annuity payable in equal installments for the life of the Participant that terminates upon the Participants death.

You can start a straight life annuity at an insurance company. Also known as a single life annuity pure life annuity lifetime annuity or life insured annuity. A lifetime annuity is a financial product you can buy with a lump sum of money.

This option provides you with the highest monthly benefit for your lifetime. However all payments stop at your death. With a straight life annuity you pay a certain amount of money and then receive regular payments until you die.

Who Is a Straight Life Annuity Right For. Like all annuities a straight life annuity provides a guaranteed income stream until the. A straight life annuity is an annuity that pays a guaranteed stream of income but ceases payments upon the death of the annuity holder.