Economics & Finance | Françoise Clementi

life annuity

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A fixed sum payable at specified intervals, esp annually, over a period, such as the recipient’s life, or in perpetuity, in return for a premium

life annuity insurance

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An insurance product that features a predetermined periodic payout amount until the death of the annuitant. (source: http://www.investopedia.com/terms/l/lifeannuity.asp)

life insurance

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A contract between an insured (insurance policy holder) and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of

life tenant

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One who has all rights associated with ownership of real property, except the right to sell the property, until his/her (or someone else’s) death. (source:

legal representative

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In its broadest sense, one who stands in place of, and represents the interests of, another. A person who oversees the legal affairs of another.

legalize

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To make lawful or legal. (source: http://www.wordreference.com/definition/legalize)

lend at usury

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To lend money at excessive interest rates.

leonine clause

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A party is excused from sharing liabilities arising out of the agreement as a stated provision in said agreement. (Law Dictionary: http://thelawdictionary.org/leonine-clause/#ixzz2cd7ItujX)