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Finance Dictionary and Glossary of Investment Terms
Joint and Survivor Annuity
Definition 1.
A type of annuity that makes payments for the lifetime of two or more beneficiaries.
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Definition 2.
A type of annuity opened by and intended for two people, that makes payments for the entire lifetime of both beneficiaries, even if one of them dies.
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Definition 3.
An annuity issued on two individuals under which payments continue in whole or in part until both individuals die. also called joint life annuity.
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