Joint And Survivor Annuity

Dictionary Says

Definition of 'Joint And Survivor Annuity'

An insurance product that continues regular payments as long as one of the annuitants is alive. A joint and survivor annuity must have two or more annuitants, and is often purchased by married couples who want to guarantee that a surviving spouse will receive regular income for life. Annuities are generally used to provide a steady income during retirement.
Investopedia Says

Investopedia explains 'Joint And Survivor Annuity'

Different types of joint and survivor annuities are available. For example, a joint and one-half annuity would reduce the payments to one-half of the original payment amount following the death of the first annuitant; and a joint and two-thirds annuity would reduce the payments to two-thirds the initial payment amount. A joint and survivor annuity is often appropriate for married couples who want to make sure the surviving spouse will continue to receive payments for life. This differs from other annuity products where it would be possible for a surviving spouse to outlive income payments.

Sign Up For Term of the Day!

Try Our Stock Simulator!

Test your trading skills!

Related Definitions

  1. Annuity

    A financial ...
  2. Joint

    A legal term ...
  3. Joint Account

    A bank or ...
  4. Joint Owned Property

    Any property ...
  5. Joint Return

    A U.S. income ...
  6. Jointly and Severally

    1. A legal term ...
  7. Life Annuity

    An insurance ...
  8. Agency Bond

    A bond issued by ...
  9. Convertible Arbitrage

    An investing ...
  10. Liquidation

    1. When a ...

Articles Of Interest

  1. The Tax Benefits Of Having A Spouse

    Check out the perks designed to promote and preserve your post-work savings - if you're married, that is.
  2. Calculating The Present And Future Value Of Annuities

    At some point in your life you will have to deal with a series of fixed payments over time, so it pays to know how to calculate them.
  3. Getting the Whole Story on Variable Annuities

    Variable annuities are another way to save money tax-deferred - but don't jump in blindly!
  4. Passing The Buck: The Hidden Costs Of Annuities

    These may look like good retirement vehicles, but beware of the fees buried in the fine print.
  5. This Is Your Brain On Stocks

    Find out how the human mind can hurt investors' portfolios.
  6. Should You Invest Your Entire Portfolio In Stocks?

    It is true that stocks outperform bonds and cash in the long run, but that statistic doesn't tell the whole story.
  7. 5 Tips For Diversifying Your Portfolio

    A diversified portfolio will protect you in a tough market. Get some solid tips here!
  8. 5 Popular Portfolio Types

    Learning how to build these portfolios will increase your investing confidence and give you financial control.
  9. How To Invest When You're Deep In Debt

    Debt is one of the biggest obstacles that prevents people from investing - but it shouldn't be.
  10. Finding Your Investing Comfort Zone

    Choosing the right investments for you is the best way to feel comfortable with your portfolio.

comments powered by Disqus
Recommended
Loading, please wait...
Trading Center