What Does Straight Life Annuity Mean?

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What does Straight Life Annuity mean? Read on to discover the definition & meaning of the term Straight Life Annuity - to help you better understand the language used in insurance policies.

Straight Life Annuity

Straight Life Annuity

A straight life annuity is an investment contract that make regular payments to the annuitant for the rest of their life. Upon death, the payments stop, and you cannot designate a beneficiary with this type of insurance. Typically, you buy one and make regular payments during your working life or pay a single lump sum, usually after retirement.

We hope the you have a better understanding of the meaning of Straight Life Annuity.

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