An annuity covering one person. A
straight life annuity provides payments until death, while a life annuity with a guaranteed
period provides payments until death or continues payments to a beneficiary for a
guaranteed term, such as ten years.
Similar Matches
Annuity certain
Annuity certain An annuity that pays a specific amount on a monthly basis for a set amount of time.
Annuity due
Annuity due An annuity with n payments, where the first payment is made at time t = 0, and the last payment is made at time t = n - 1.
Annuity factor
Annuity factor Present value of $1 paid for each of t periods.