straight life annuity

Definition of "straight life annuity"
  1. A type of retirement income product that provides regular payments to the buyer for the rest of their life
How to use "straight life annuity" in a sentence
  1. The retiree purchased a straight life annuity to have a steady flow of income throughout retirement.
  2. After retiring, he decided to convert his retirement savings into a straight life annuity to ensure monthly payments.
  3. She was relieved to know that her straight life annuity would cover her living expenses in her later years.

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