The assumed period of the loan is based on the life expectancy of the annuitant but life annuities are payable until the death of the last surviving annuitant.
32.
An annuity is a contract sold by an insurance company that guarantees payments to an annuitant at some point in the future, typically at retirement, explains Johnson.
33.
Sometimes there is a life insurance component added so that if the annuitant dies before annuity payments begin, a beneficiary gets either a lump sum or annuity payments.
34.
Financially able to retire, he lived the life of an annuitant gentleman, dying in Geneva, Switzerland in 1886, when Muttlebury was a freshman Cambridge undergraduate.
35.
Additionally, the 66 ABG supports over 100, 000 retired military personnel, annuitants and spouses living in the six-state New England area and New York.
36.
The annuitant membership at June 30, 2015 consisted of approximately 220, 000 retirees and beneficiaries who receive over $ 456 million in pension and healthcare benefits each month.
37.
The beneficiary is the one who receives the remaining proceeds in an annuity upon the death of the annuitant, if the proceeds don't go to the insurance company.
38.
A "'life annuity "'is an annuity, or series of payments at fixed intervals, paid while the purchaser ( or annuitant ) is alive.
39.
The first type is a guaranteed minimum death benefit ( GMDB ), which can be received only if the owner of the annuity contract, or the covered annuitant, dies.
40.
In the early 1960s, provision was extended to non-annuitants and, between 1960 and 1985, a further 14 Homes were set up or acquired around England and Wales.
