life annuity definition

life annuity means an annuity payable under a policy issued to an SRS member for a term ending with, or at a time ascertainable only by reference to, the end of his life;

life annuity means “life annuity contract” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

life annuity means equal monthly installments payable during the

Examples of life annuity in a sentence

• Such a form may, for example, include the Joint and Survivor Life Annuity Form which provides monthly payments while either of two persons upon whose lives such payments depend is living.

• FIFTH OPTION - Joint and Last Survivor Life Annuity with Payments for a Period Certain - An annuity payable for a specified number of years and during the lifetimes of the Annuitant and the Joint Annuitant and thereafter during the remaining lifetime of the survivor.

• If an Annuity Payment Option is not chosen prior to the Maturity Date, payments will commence to the Owner on the Maturity Date under the Annuity Payment Option providing a Life Annuity with annuity payments guaranteed for 10 years.

• SECOND OPTION - Life Annuity With a Cash Refund - An annuity payable during the lifetime of the Annuitant.

• Life Annuity / Life Annuity with Certain Period -- Fixed and/or Variable Annuity Payments will be made for the lifetime of the Annuitant with no Certain Period, or life and a 10 year Certain Period, or life and a 20 year Certain Period.

More Definitions of life annuity

life annuity means a non commutable arrangement to provide, on a deferred or immediate basis, a series of periodic payments for the life of the annuity holder or for the lives jointly of the annuity holder and the annuity holder’s pension partner;

life annuity means an arrangement which complies with the requirements for an annuity under paragraph 60(l) of the Tax Act as well as the requirements of the Pension Rules with respect to life annuities, including without limitation, section 23 of the Regulations;

life annuity means an arrangement that is made to purchase, through a person authorized to carry on a life insurance business in Canada, an “immediate life annuity” or a “deferred life annuity” (as defined in section 2 of the Regulation) that complies with the relevant provisions of the Tax Act and section 21 of the Regulation, provided that the annuity shall not differentiate on the basis of the sex of the beneficiary unless otherwise permitted under the Regulation;

life annuity means a non-commutable arrangement to provide, on a deferred or immediate basis, a series of periodic payments for the life of the annuity holder or for the lives jointly of the annuity holder and the annuity holder’s pension partner;

life annuity means equal monthly installments payable during the member's lifetime after retirement.

life annuity means “life annuity”, “life annuity contract”, “life pension”, “deferred life annuity” or “immediate life annuity” as defined in Pension Legislation that conforms with the Act and Pension Legislation;

life annuity means a benefit that is payable monthly in the form of an annuity for the life of the Participant and that is equal to the Participant’s SERP Benefit.