Life Option

A fixed annuity that pays a certain monthly sum for life of the annuitant. Generally speaking, an annuitant buys a life option and makes installment payments for it throughout his/her working life. Following retirement, the annuitant begins to receive the benefit. A life option is designed to provide a stable income for the annuitant in retirement. Risk is split between the annuitant and the company providing the life option: the annuitant benefits financially if he/she lives for a long time after retirement while the company benefits if he/she dies sooner. See also: Income Annuity, Pension, IRA, 401(k).

单词	life option
释义	Life Option Life Option A fixed annuity that pays a certain monthly sum for life of the annuitant. Generally speaking, an annuitant buys a life option and makes installment payments for it throughout his/her working life. Following retirement, the annuitant begins to receive the benefit. A life option is designed to provide a stable income for the annuitant in retirement. Risk is split between the annuitant and the company providing the life option: the annuitant benefits financially if he/she lives for a long time after retirement while the company benefits if he/she dies sooner. See also: Income Annuity, Pension, IRA, 401(k).
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