Life Income Joint And Survivor Settlement Option Guarantees. At the time of settlement, the annuitant must choose: Income for 2 or more recipients until they die *the life income joint and survivor option guarantees an income for two or more recipients for the duration of their lives.
The payment amount is set based on the beneficiary’s age and estimated life expectancy. When the reduced option is written as joint and 2/3 survivor, the surviving beneficiary receives 2/3 of what was received when both beneficiaries were alive. 35 votes) a straight life annuity, sometimes called a straight life policy, is a retirement income product that pays a benefit until death but forgoes any further beneficiary payments or a death benefit.
What are life joint and survivor settlement option
Life income joint and survivor settlement option payments are guaranteed for the lifetime of two or more recipients. What are life income joint and survivor settlement option guarantees? 35 votes) a straight life annuity, sometimes called a straight life policy, is a retirement income product that pays a benefit until death but forgoes any further beneficiary payments or a death benefit. At that point, the moneystops.
