life income-period certain annuity

Definition of "life income-period certain annuity"
  1. It's a type of annuity that promises a specific number of payments regardless of whether the individual receiving payments passes away before these payments are completed. If the individual continues to live beyond the completion of these agreed payments, they receive income for life
How to use "life income-period certain annuity" in a sentence
  1. Consider a life income-period certain annuity to ensure income for life after a specified number of initial payments.
  2. A life income-period certain annuity is a great choice of policy for those who want to ensure a minimum number of payments with the possibility of lifetime income.
  3. For a minimum payout guarantee and potentially lifelong income, one could opt for a life income-period certain annuity.

Provide Feedback
Browse Our Legal Dictionary
# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z