Joint and Survivor Annuity

A joint and survivor annuity is held by two or more individuals, usually by husband and wife, under an arrangement wherein annuity payments are made in full while both the contract holders are alive, and at a pre-specified percentage (50-100%) of the full amount after the death of one of the annuity holders. One of the annuity holders is the primary annuitant while others are joint annuitants.

By |2020-04-17T17:59:03+00:00February 22nd, 2019|Annuities, Annuities 101|