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joint and survivor annuity

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Joint and survivor annuity
A type of annuity opened by and intended for two people, that makes payments for the entire lifetime of both beneficiaries, even if one of them dies.
joint and survivor annuity
An annuity that pays a lifetime income to the annuitant and to another person, generally a spouse. The payments may be scheduled to decrease at the death of either recipient. Also called joint life annuity.


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Typically, a spouse is the beneficiary; in such case, a joint and survivor annuity provides fixed payments as long as either spouse is alive.
A primer on annuities by Schulman, Michael David / The Tax Adviser
To ensure that Kathryn would be covered no matter what, the Cheathams, of Windsor Hills, set up a joint and survivor annuity for withdrawal on his 401(k).
JOINT ACCOUNTS WEDDINGS ARE A MARRIAGE OF SPENDING, SAVINGS - FOR ... by Daily News (Los Angeles, CA)
Permanent income includes covered earnings, Social Security retirement benefits, income from defined benefit pension plans after age 62, and the annual payments from an actuarially fair joint and survivor annuity from wealth (excluding defined benefit pension and Social Security wealth) at age 62.
Lifetime distributional effects of Social Security retirement benefits by Iams, Howard / Social Security Bulletin
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