A life annuity is an annuity, or series of payments at fixed intervals, paid while the purchaser (or annuitant) is alive. A life annuity is an insurance product typically sold or issued by life insurance companies. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity.
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The payment stream from the issuer to the annuitant has an unknown duration based principally upon the date of death of the annuitant. At this point the contract will terminate and the remainder of the fund accumulated is forfeited unless there are other annuitants or beneficiaries in the contract. Thus a life annuity is a form of longevity insurance, where the uncertainty of an individual's lifespan is transferred from the individual to the insurer, which reduces its own uncertainty by pooling many clients. Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit.
This list is incomplete :
Allstate
American Family Insurance
American Fidelity Assurance
Amica Mutual Insurance
AXA Equitable Life Insurance Company
Bankers Life and Casualty
Conseco
Farmers Insurance Group
Genworth Financial
Horace Mann Educators Corporation
ING Group
Jackson National Life
John Hancock Insurance
Lincoln National Corporation
MetLife
Mutual of Omaha
National Life Group
Nationwide Mutual Insurance Company
New York Life Insurance Company
Ohio National Financial Services Company
Old Mutual
Pacific Life
Primerica
Professional Life and Casualty
Protective Life
Prudential Financial
Securian Financial Group
Standard Insurance Company
State Farm Insurance
Thrivent Financial for Lutherans
TIAA-CREF
Transamerica Corporation
UNIFI Companies
United of Omaha
Western & Southern Financial Group
(Source Wikipedia)
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