According to my English-Swedish, Swedish-English Norstedt's dictionary, "livränta" can mean either "annuity" or "life annuity." My Norstedt's one-way Swedish-English dictionary, however, only translates it as "life annuity," defined as an arrangement in which a buyer pays money in installments or a lump sum and then receives regular payments starting on a specified date and continuing until the buyer's death (http://en.wikipedia.org/wiki/Life_annuity). In certain cases in Sweden (say an occupational injury leaves one permanently disabled) one may qualify for a life annuity that is coordinated with the occupational injury annuity. See reference below.