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reversionary annuity

   Also found in: Financial 0.01 sec.
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Noun1.reversionary annuity - an annuity payable to one person in the event that someone else is unable to receive it
survivorship annuity
annuity, rente - income from capital investment paid in a series of regular payments; "his retirement fund was set up to be paid as an annuity"
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Naming that person the beneficiary of a reversionary annuity will not be expensive because of his life expectancy and the product can provide a great deal of protection.
Mortality expectations provide real value by Greenwald, Matthew / Boomer Market Advisor
On a more technical level Clark defines types of early insurance--contributorships, mortuary tontines, premium insurance and reversionary annuity companies--and chronicles the growth of such landmark businesses as the Royal Exchange Assurance Corporation and London Assurance Corporation at the beginning of the eighteenth century, the Equitable Society of mid-century and the Westminster and Pelican which appeared at century's end.
Betting on Lives: The Culture of Life Insurance in England, ... by Schmidt, Albert J. / Journal of Social History
 
 
 
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