What is a Pure Life Annuity?

Shawn Plummer

CEO, The Annuity Expert

Definition of Pure Life Annuity

A pure life annuity, also known as a straight life annuity, is a financial product that provides regular payments to an individual, known as the annuitant, for the duration of their life. Upon the death of the annuitant, these payments cease, with no residual value payable to beneficiaries.

Pure Life Annuity Settlement Option

Pure Life Annuity Settlement Option

The pure life annuity settlement option refers to the method in which the annuity is paid out. It involves regular payments to the annuitant until their death, after which payments stop completely.

Pure Life Annuity

Alternative term for Pure Life Annuity

Another term used for a pure life annuity is a “straight life annuity.” This term emphasizes the straightforward nature of the annuity, where payments are made continuously until the annuitant’s death.

Pure Life Annuity Definition

Pure Life Annuity vs. Pure Annuity

A pure life annuity and a pure annuity are essentially the same. Both terms describe an annuity plan that provides payments for the life of the annuitant without residual benefits to heirs.

Pure Annuity

Pure Life Annuity Options

FeaturePure Life AnnuityOther Annuity Types
Payment DurationLifetime of AnnuitantVaries (e.g., fixed term, lifetime with guarantee period)
Residual BenefitNoneMay have residual value for beneficiaries
Payout AmountGenerally higher (due to no residual benefit)Varies based on structure
RiskLongevity risk (benefit stops at death)Varies based on type
Pure Life Annuity Settlement


A pure life annuity is a financial tool offering lifetime income with no beneficiary benefits after the annuitant’s death. It’s a straightforward option for those seeking security in regular payments during their lifetime. For personalized advice and to explore if a pure life annuity suits your financial goals, contact us today for a free quote.

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Frequently Asked Questions

Can I access my funds in a pure annuity before the annuity term ends?

It depends on the type of annuity you have. Deferred annuities, you can. SPIAs, you can not.

How does a pure annuity work?

A Pure Annuity is a contract where an individual makes a lump-sum payment to an insurance company in exchange for a guaranteed stream of income payments over a specific period of time without any death benefit or other features.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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