Which of the following statements is (are)true concerning a joint-and-survivor annuity?
I.Under this annuity,payments begin after the first annuitant dies.
II.This annuity is often selected by married couples.

Question

Quizplus · Accepted Answer

Statement I is false. Under a joint-and-survivor annuity, payments continue to the surviving annuitant(s) after the first annuitant dies.

Statement II is true. A joint-and-survivor annuity is often selected by married couples as it provides income for the lifetime of both the annuitants, ensuring that neither spouse is left without income in the event of the other's death.

Which of the Following Statements Is (Are)true Concerning a Joint-And-Survivor