What Are Life Annuities? 
Assuming youre addressing annuities that use the life only option , here are a few talking points . Non-qualified deferred annuities are generally purchased to produce income later on in the life of the annuitant . One option is life only , which generates a guaranteed stream of income for the life of the annuitant , no matter how long they live . You can also purchase an immediate annuity with the same life only option . 