joint-and-survivor annuity
- A type of annuity that continues payments as long as one or more of the annuity recipients remains living
- The couple decided to invest in a joint-and-survivor annuity to ensure lifelong financial security.
- Under their joint-and-survivor annuity, if one spouse passes away, the other will still receive regular payments.
- Having a joint-and-survivor annuity provided peace of mind knowing that financial support would continue even if one recipient were to pass away.
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