Home > Glossary > Joint Life With Last Survivor Annuity
Meaning / Definition of
Joint Life With Last Survivor Annuity
Categories: Insurance, Estate Planning,
A life annuity payable for the lifetime of the annuitant and continued for the lifetime of his/her spouse or for a certain fixed term. In cases where the annuity payments still remain, the balance will be paid to the beneficiary. If there is no beneficiary mentioned, then it will be paid to the estate.
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