Know-how
A General Guide: What Is a Joint and Survivor Annuity?
Feb 17, 2024
Joint and survivor annuities are annuity contracts that ensure payments over the lifetimes of both the annuitant and a secondary annuitant. The monthly payments may be cheaper but will extend over a more significant period. If both annuitants pass away before the principal is repaid, additional provisions can be included to distribute payments to a third party.