life annuity with period certain

life annuity with period certain definition - finance
An investment whose payouts are made to the insured during his or her lifetime or to his or her beneficiary according to the terms of a guarantee provision. If the insured dies within a certain time period after starting to receive income, usually 10 or 20 years, the insuredÂ’s beneficiary will receive regular payments for the balance of the period.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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