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Finance Dictionary and Glossary of Investment Terms
Joint and Survivor Annuity
A type of annuity that makes payments for the lifetime of two or more beneficiaries.
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.
An annuity issued on two individuals under which payments continue in whole or in part until both individuals die. also called joint life annuity.