Single-Life Payout

You retire after a long career and start receiving your pension benefits. You have a pretty generous pension...which is good, because you're part of an obscure polygamist cult and have seven spouses to support.

You're worried about whether these spouses will continue to receive your pension if you die. So you check the fine print of your pension plan. As it turns out, it has a single life payout.

With that structure, the pension only provides income up until your death (the end of the single life it covers). After you're gone, your seven spouses will have to fend for themselves.