It turned out to be Captain Bildad, who along with Captain Peleg was one of the largest owners of the vessel; the other shares, as is sometimes the case in these ports, being held by a crowd of old annuitants; widows, fatherless children, and chancery wards; each owning about the value of a timber head, or a foot of plank, or a nail or two in the ship.
The debtor, Marcus Soori-Arachi, was the annuity owner and annuitant, with his probate estate the designated beneficiary entitled to the proceeds upon his death.
The transaction will not change the amount of the monthly benefit for any annuitant. Metropolitan Life will be responsible for making these monthly payments following the close of the transaction.
This consumption profile lies well below the annuitant due to the likely payment of accidental bequests; the analysis presented here suggests that someone who self-finances consumption in retirement requires 1.71 times the starting wealth of an annuitant to achieve the same expected lifetime utility at age 65.
An annuitant receiving payments, whether through some significant mishap, or through some great fortune, may substantially benefit their family's circumstance by liquidating all or part of their payment stream," said Paul Kadlick, Director of Sales at SHS.
A military member has devoted a career in serving our country and the spouse has supported that member and deserves recognition and compensation once the annuitant dies.
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