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A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer receives annuity payments. What type of annuity did the couple buy
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A couple receives a set amount of income from their annuity. When the wife dies, the husband no longer receives annuity payments. What type of annuity did the couple buy

User Rob Gibbens
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1 Answer

7 votes

Answer:

Joint life

Step-by-step explanation:

The annuity called Joint life, allows a couple to pay an annuity jointly and receive all the benefits that it can promote, but only while the two members of the couple are alive. Once one of them dies, the annuity is suspended and the beneficiary who remains alive will not be entitled to anything, as shown in the question above.

User Trimack
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