life annuity

(redirected from Lifetime Annuities)
Also found in: Legal, Financial.
Related to Lifetime Annuities: immediate annuity
Translations

life annuity

nrendita vitalizia
References in periodicals archive ?
Legal & General has announced the launch of Track My Apps, a new tracking service from industry FinTech company Origo, which will support advisers selling its retirement income range of products from fixed-term annuities to lifetime annuities.
In recent years, the seemingly oxymoronic "deferred immediate" annuity has gained ground, as a way to offer higher yields on lifetime annuities. Insurers may call these products deferred income annuities or longevity annuities.
The government therefore intends to change the current tax rules in order to: Allow lifetime annuities to decrease in payment.
The rules on lifetime annuities are being relaxed so income can be more flexible.
Research from the retirement specialists LV= shows that people are becoming more aware of the alternatives to standard lifetime annuities, which offer an income for life.
Unlike 401(k) plans, cash balance plans are required to offer employees the option to receive their benefits in the form of lifetime annuities.
Also, cash balance plans commonly provide retirees with the option of converting their account balances into lifetime annuities. Unlike most DB plans, cash balance plans usually allow lump-sum distributions.
Lifetime annuities can do this with their guaranteed paychecks for life, and offer high payout rates due to mortality credits.
How will it affect premiums for customers who already have personal protection policies or lifetime annuities? If the policy was established on guaranteed terms, then the premiums will not increase when the legislation comes into effect from December.
People relying on a regular, dependable income from a smaller pension pot - under pounds 50,000 - may not suit many of the product alternatives to lifetime annuities as they will not want to take investment risk and switching products will incur costs.