Pure Annuity


Definition of "Pure annuity"

Contract sold by insurance companies that pays a monthly (quarterly, semiannual, or annual) income benefit for the life of a person (the annuitant). The annuitant can never outlive the income from the annuity. Upon the death of the annuitant all income payments cease. There are no beneficiary benefits under this type of annuity. Contrast with refund annuity.



Search Real Estate Glossary

 

Related Real Estate Glossary terms

Abandonment And Salvage

Legal status giving an insurance company all rights to an insured's property. The abandonment clause ...

Disqualified Person

Individual prohibited under the employee retirement income security act of 1974 (erisa) from conduct ...

Inter Alia

Among other things. Inter alia is an ancient method of referring to statutes without reciting all of ...

Forgery Bond

Same as term Depositors Forgery Insurance: coverage provided for individuals or businesses for loss ...

Funding Cover

Refers to the insured or reinsured paying premiums into an account at a commercial bank that will be ...

Book Value Per Share

Total shareholders' equity divided by total common shares outstanding. ...

Related Real Estate FAQ

What Is A Survey?

A survey is an examination of a property\'s boundaries to determine the quantity of land, location o ...

What Does Fannie Mae Mean?

Fannie Mae is a name used by the Federal National Mortgage Association, which is a government-charte ...

What Is PITI And What Does It Stand For?

PITI is the total monthly payment you make on a house-Principal, Interest, Taxes, and Insurance. ...

What Is A Front-end Ratio?

A front-end ratio is a ratio of the borrowers monthly housing expenses-including principal, interest ...

What Does Preapproved Mean?

When you are preapproved, you have a definite commitment from a lender ...

What Is Escrow?

Escrow is a trust account created by a neutral third party to hold money for the seller or buyer. Wh ...

Read why Real Estate Agent rates 5 Stars in 10 Agent Reviews
Read Reviews

Agents join here
Add our widget on your Website

Real Estate Advice

Is it better to buy or sell a home first Tax Breaks for the First Time Home Buyer Rent or Buy - the pros and cons What Must I Disclose When Selling My Home? Real Estate Open House - The Dos and Don

FAQ

What is a title search? What is a Ginnie Mae? What is a subdivision? Besides making my monthly mortgage payment, how can I build equity into my house? What is a home warranty?