Joint And Survivor Annuity

An insurance product that continues regular payments as long as one of the annuitants is alive. A joint and survivor annuity must have two or more annuitants, and is often purchased by married couples who want to guarantee that a surviving spouse will receive regular income for life. Annuities are generally used to provide a steady income during retirement.

Different types of joint and survivor annuities are available. For example, a joint and one-half annuity would reduce the payments to one-half of the original payment amount following the death of the first annuitant; and a joint and two-thirds annuity would reduce the payments to two-thirds the initial payment amount. A joint and survivor annuity is often appropriate for married couples who want to make sure the surviving spouse will continue to receive payments for life. This differs from other annuity products where it would be possible for a surviving spouse to outlive income payments.


Investment dictionary. . 2012.

Look at other dictionaries:

  • joint–and–survivor annuity — see annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • joint and survivor annuity — noun : joint life and survivor annuity …   Useful english dictionary

  • joint and survivor annuity — 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. Bloomberg Financial Dictionary …   Financial and business terms

  • qualified joint and survivor annuity — (QJSA) USA The form of payment applicable to benefits under a defined benefit plan or a money purchase plan that are paid to a married participant. A qualified joint and survivor annuity includes a series of monthly annuity …   Law dictionary

  • Qualified Joint And Survivor Annuity - QJSA — An annuity payment from a qualified plan or 403(b) account that provides a life annuity to the participant and a survivor annuity for the spouse after the participant’s death. QJSA rules apply to money purchase pension plans, defined… …   Investment dictionary

  • joint and survivorship annuity — n: joint and survivor annuity at annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • joint life and survivor annuity — noun : an annuity payable as long as any of two or more designated persons shall live …   Useful english dictionary

  • joint–and–last–survivor annuity — n: joint and survivor annuity at annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • joint life and survivorship annuity — n: joint and survivor annuity at annuity Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • joint and last survivor annuity — Insurance. an annuity payable until the death of the last of two or more designated persons, though sometimes with reduced amounts after the first such person dies. * * * …   Universalium

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