Which annuity payout option generally produces the largest monthly payment for a given account value?

Giải thích

A life-only payout ends at the annuitant's death with no residual benefit to anyone, so the insurer can pay the most each month. Every other option adds a guarantee to a second person or a minimum number of payments, and that added obligation reduces the monthly amount. Joint and last survivor typically produces the smallest payment because two lives must be covered.