A married couple with only one spouse currently working outside the home plans to retire in several years. An annuity that would be particularly suitable for saving for that retirement would be

Question

Quizplus · Accepted Answer

A deferred joint and survivor annuity is particularly suitable for a married couple planning for retirement when only one spouse is working. This type of annuity provides income for both spouses, starting at a future date (deferred), and continues to provide income for the surviving spouse after the death of the first spouse. This ensures that both the working and nonworking spouse are covered during their retirement years.

A Married Couple with Only One Spouse Currently Working Outside