An annuity paying one individual for his or her life and then providing for an annuity for the person's surviving spouse, usually in a reduced amount.
An annuity that pays one individual for his or her life, and then provides an annuity for the person's surviving spouse. The survivor's annuity is usually in a reduced amount.
A contract that provides income periodically, payable during the longer lifetime of two persons. The amount payable may decrease at the death of one or the other. (See Contingent Annuity Option)
Annuity that pays an income as long as either of two or more designated people is alive.
Type of benefit payment providing the spouse with income equal to at least one-half of the participant's benefit, which is usually reduced to pay for the survivor protection.
An annuity that covers two or more annuitants and that pays benefits until the last annuitant dies.
An annuity that provides income periodically, payable during the longer lifetime of two persons.