joint life annuity definition

joint life annuity

Annuity that pays until the death of the first of two or more annuitants. While the monthly payment is greater in this annuity than in other joint annuities, it is not considered suitable as a joint husband and wife annuity because the survivor is left without annuity income. See also joint and survivor annuity and joint life and survivorship annuity.

joint life annuity is in the General, Marine, & Life Insurance and Investing subjects.

joint life annuity appears in the definitions of the following terms: joint and survivor annuity and joint life and survivorship annuity

This content can be found on the following page:

http://www.businessdictionary.com/definition/joint-life-annuity.html