Most married couples who choose an annuity as a payout in retirement take which type of annuity?

Question

Quizplus · Accepted Answer

A joint and survivor annuity ensures that both spouses will receive payments for the remainder of their lives, even if one of them dies. This provides a greater level of financial security for both spouses in retirement. A single life annuity only pays out for the life of the annuitant, and an annuity for life pays out until the death of the annuitant with no survivor benefits. Inflation protection may be a good choice for some couples, but it may also come at a higher cost. Therefore, while inflation protection is a good option to consider, joint and survivor annuity is the best choice for most married couples.

Most Married Couples Who Choose an Annuity as a Payout