What Is A Single Life Annuity at Life

What Is A Single Life Annuity. A series of payments are guaranteed during that individual’s lifetime, but the payments cease when the annuity holder (aka an “annuitant”) passes away. Affordable, flexible term life insurance at your pace.

A single life annuity is an annuity that provides an income as long as the annuitant is living. Single life annuities are available with various payout options. Unlike a joint life payout, this will provide an income to surviving spouses or additional annuitants when the annuity owner dies.

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Annuity buyers can also purchase a refund option.with this, any money remaining in the straight life annuity after the annuitant dies will be forwarded to the beneficiary named in the contract. Also called straight life or life annuity, a single life annuity is a type of annuity that’s been structured to guaranteed payments to one individual for the duration of their lifespan. After his demise, the payouts do not continue to be offered to any dependents. You give an insurance company a lump sum of money, and it promises to.