A single-life annuity is characterized by having how many annuitants?

A single-life annuity is defined specifically by the presence of a single annuitant, meaning that the annuity is designed to provide benefits only for that one person's lifetime. Upon the death of the annuitant, the payments cease, and there are no further benefits paid out to any beneficiaries related to that annuity.

This structure contrasts with joint-life annuities or other forms of annuities that may involve multiple annuitants or different payout structures that continue beyond the lifetime of one individual. With a single-life annuity, the focus is solely on the financial needs and longevity of that individual, making it a straightforward option for those looking for steady income during their retirement, tailored exclusively for one person's lifetime.