any annuity that is contingent upon the survival of the annuitant or annuitants, especially an annuity that terminates with the death of a single annuitant.
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019
Examples from the Web for life annuity
Historical Examples of life annuity
I would have sold my rentes; she should have had some of the principal, and I would have bought a life-annuity with the rest.Father Goriot
Honore de Balzac
He rewarded her with a life-annuity of three thousand francs.Repertory Of The Comedie Humaine, Complete, A -- Z
Anatole Cerfberr and Jules Franois Christophe