A married couple, both age 66, want annuity income that continues for as long as either of them is alive. Which settlement option fits?

Giải thích

A joint and last survivor option pays until the death of the second annuitant, which is exactly what the couple described. Straight life stops at the first death, leaving the survivor with nothing. A period certain or unit refund option guarantees only a limited number of payments or a return of principal, not lifetime income for the survivor.