Question

An immediate annuity pays $2,000 per month while both a husband and wife are alive. However, at ones death the monthly income decreases by $1,000 for the remainder of the spouses' life. What kind of settlement option is this? Joint life Life with period annuity Joint and survivor Cash refund

Name: an immediate annuity pays 2000 per month while both a husband and wife are alive however at ones death the monthly income decreases by 1000 for the remainder of the spouses life what kind of settlemen
Uploaded: 2024-06-15T08:23:58-08:00
Duration: 1 min 33 s
Channel: Aparna Shakti
Description: an immediate annuity pays 2000 per month while both a husband and wife are alive however at ones death the monthly income decreases by 1000 for the remainder of the spouses life what kind of settlemen

          An immediate annuity pays $2,000 per month while both a husband and wife are alive. However, at ones death the monthly income decreases by $1,000 for the remainder of the spouses' life. What kind of settlement option is this?

	Joint life
	Life with period annuity
	Joint and survivor
	Cash refund

Added by Mary T.

Probability with Applications in Engineering, Science, and Technology

Matthew A. Carlton • Jay L. Devore 2nd Edition

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Solved by Expert Aparna Shakti

06/15/2024

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The annuity pays $2,000 per month while both the husband and wife are alive. Upon the death of either spouse, the monthly payment decreases to $1,000 for the remainder of the surviving spouse's life. Show more…

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An immediate annuity pays $2,000 per month while both a husband and wife are alive. However, at ones death the monthly income decreases by $1,000 for the remainder of the spouses' life. What kind of settlement option is this? Joint life Life with period annuity Joint and survivor Cash refund