What Is Purchased Life Annuities?

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   Brandon Roberts

   Owner, The Insurance Pro Blog,

   Life annuities would be annuities that pay an income benefit for the life of the annuitant.  This means that as long as the annuitant is alive, the annuity will pay an income benefits.  As soon as the annuitant dies the income benefits will stop.  This happens regardless of the amount of money paid out (i.e. the insurance company may not have paid out all of the initial money paid into the annuity and in this case keeps the money that has not yet been paid out).

   Answered on August 23, 2013

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