Definition An annuity usually used for retirement that does not have a death benefit. Only the recipient of such annuity receives any payments from it. Straight life annuities usually provide larger p [..]

An annuity that lasts for the length of the annuitant's life and stops all payments at the time of death.

see annuity

Straight life annuity is a retirement planning product available through insurance companies, which makes regular payments to the annuitant (the person covered by the annuity) until death. There' [..]

An annuity whose periodic payouts stop when the annuitant dies.