Private annuities are entered into for a variety of reasons. Some annuitants seek a stream of income that will continue until death of the annuitant — or annuitant and spouse under a joint and survivor annuity; others are moved by a desire to transfer significant assets such as farmland to someone in the next generation as obligor.
"Using Life Expectancy Tables For Private Annuities,"
Agricultural Law Digest: Vol. 7
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol7/iss6/1