Substandard Health Annuity
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Definition of 'Substandard Health Annuity'
An insurance product that can be purchased by a person with a serious, demonstrable health problem which will likely shorten the annuitant's life expectancy. A substandard health annuity is a type of straight life annuity.
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Investopedia explains 'Substandard Health Annuity'
These annuities pay out more money per period than other straight life annuities because the length of the annuitant's life is expected to be significantly shorter than that of the average, healthy person of a similar age.
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Search results for 'Substandard Health Annuity'
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http://www.investopedia.com/articles/retirement/05/071205.asp
... annuity. A substandard health annuity is a straight life annuity that may
be purchased by someone with a serious health problem. ...
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http://www.investopedia.com/articles/retirement/07/long_term_care_annuity.asp
... In The Annuity Game.) LTC Portion The other half of an LTC annuity is LTC ... relieve
fears of ending up on government aid and languishing in a substandard facility ...
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