A person who receives an annuity is called the annuitant. The annuitant pays a lump sum to the life insurance company in return for a regular income. If this money is from the annuitant's own funds, it is called a purchase life annuity. If the money is from a maturing pension fund, it is called a compulsory purchase annuity. A joint life annuity co...
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Income usually relevant to two people (for example man and wife) which continues until the death of... <a target=_blank href='http://www.finance-glossary.com/terms/joint-life-annuity.htm?id=807&ginPtrCode=00000&PopupMode=false' title='Read full definition of joint life annuity'>more</a>
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an annuity, the payments of which cease at the death of the first of two or more specified persons.
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https://www.infoplease.com/dictionary/joint-life-annuity
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