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Whipsaw Glossary

Currently viewing the definition of: Joint Life Annuity
 
 
 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 continues to be paid until both parties have died. This may be at the full rate, or more likely at a rate of 50% after the fist party has died.  
 


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    • Asset Stripping
      Where a company is acquired with the purpose of selling off all or a large percentage of the assets it owns. If all the assets are sold it means the value of individual assets are greater than the purchase price. If selling off only some of the assets, the aim will be to raise enough cash to cover the purchase price, meaning the remainder of the business has be acquired for nothing.