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HandWiki. Life Annuity. Encyclopedia. Available online: https://encyclopedia.pub/entry/33810 (accessed on 29 September 2026).
HandWiki. Life Annuity. Encyclopedia. Available at: https://encyclopedia.pub/entry/33810. Accessed September 29, 2026.
HandWiki. "Life Annuity" Encyclopedia, https://encyclopedia.pub/entry/33810 (accessed September 29, 2026).
HandWiki. (2022, November 10). Life Annuity. In Encyclopedia. https://encyclopedia.pub/entry/33810
HandWiki. "Life Annuity." Encyclopedia. Web. 10 November, 2022.
Life Annuity
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The content is sourced from: https://handwiki.org/wiki/Social:Life_annuity

A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. The majority of life annuities are insurance products sold or issued by life insurance companies however substantial case law indicates that annuity products are not necessarily insurance products. Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity. The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a form of longevity insurance, where the uncertainty of an individual's lifespan is transferred from the individual to the insurer, which reduces its own uncertainty by pooling many clients.

life annuity life annuities life insurance companies

References

  1. "Laboratory of Actuarial Mathematics". Act.ku.dk. http://www.act.ku.dk/. 
  2. Hald, Anders (2005). A History of Probability and Statistics and Their Applications before 1750. John Wiley & Sons. pp. 608. 
  3. J. Franklin, The Science of Conjecture: Evidence and Probability Before Pascal (Baltimore: Johns Hopkins University Press, 2001), 269-272.
  4. "From Commercial Arithmetic to Life Annuities: The Early History of Financial Economics, 1478-1776 " Geoffrey Poitras, Simon Fraser University http://www.bus.sfu.ca/homes/poitras/FIN_HIS3.pdf
  5. Seminar Series on Quantitative Finance The Fields Institute http://www.fields.utoronto.ca/programs/cim/financial_math/finance_seminar/06-07/
  6. Stephen Hawking God Created the Integers: The Mathematical Breakthroughs That Changed History, Running Press, 2005 ISBN:0-7624-1922-9
  7. Pierre-Charles Pradier, « Les bénéfices terrestres de la charité. Les rentes viagères des Hôpitaux parisiens 1660-1690 » Histoire & mesure (décembre 2011, à paraître).
  8. Longevity Insurance: A Missing Market Adam Creighton, et al. University of New South Wales AU http://wwwdocs.fce.unsw.edu.au/actuarial/research/papers/2006/Longevity%20Insurance%20-%20A%20Missing%20Market_28Aug_JP_Final.pdf
  9. ""FINRA Publishes Guidance, Text for New Rule Governing Deferred Variable Annuity Transactions" Financial Industry Regulatory Authority, Inc, November 6, 2007 https://www.finra.org/newsroom/2007/finra-publishes-guidance-text-new-rule-governing-deferred-variable-annuity
  10. ""Finance Bill to scrap compulsory annuity age" Banking Times, December 10, 2010 http://www.bankingtimes.co.uk/2010/12/10/finance-bill-to-scrap-compulsory-annuity-age/
  11. Cannon, Edmund; Ian Tonks (2008). Annuity Markets. Oxford: Oxford University Press. p. 260. ISBN 978-0-19-921699-4. http://ukcatalogue.oup.com/product/9780199216994.do. 
  12. "NCPA: Baby Boom Retirement Could Cause Annuity Market Explosion " Insurance Newsnet, 12/9/2004 http://www.insurancenewsnet.com/article.asp?a=top_news&id=30974
  13. "An Income Stream to Last a Lifetime" Anne Kates Smith, Kiplinger https://finance.yahoo.com/focus-retirement/article/105678/An-Income-Stream-to-Last-a-Lifetime?mod=retirement-post-spending
  14. "Could you retire without Social Security? Bret Arends, WSJ https://finance.yahoo.com/focus-retirement/article/111640/could-you-retire-without-social-security;_ylt=AhYu.6rAp1KSabILrbNr.sy7YWsA;_ylu=X3oDMTE1azk4N240BHBvcwMzBHNlYwNmaWRlbGl0eUZQBHNsawNjb3VsZHlvdWFmZm8-?mod=fidelity-readytoretire&cat=fidelity_2010_getting_ready_to_retire
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