joint-and-survivor annuity

Definition of "joint-and-survivor annuity"
  1. A type of annuity that continues payments as long as one or more of the annuity recipients remains living
How to use "joint-and-survivor annuity" in a sentence
  1. The couple decided to invest in a joint-and-survivor annuity to ensure lifelong financial security.
  2. Under their joint-and-survivor annuity, if one spouse passes away, the other will still receive regular payments.
  3. 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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