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The definitions contained herein are for general information only and are not
designed for use in connection with the interpretation of any insurance policy
or annuity policy issued through Insurance Answer Center.
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Life Insurance Glossary Terms 4 A B C D E F G H I J K L M N O P Q R S T U V W Y |
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Joint and Survivor Option |
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Under this life insurance settlement option, the death benefit is paid as a stream of benefit payments (an immediate annuity) instead of being paid as a lump sum. Payments are usually for a guaranteed minimum period and thereafter continue until both of the annuitants have died. The annuitants are usually the beneficiary and his/her spouse. The option can be selected by the owner during the lifetime of the person insured and, thereafter, by the beneficiary. This is also an immediate annuity or annuitization option. Please visit our annuity site to learn more about the different types of annuities available, and how they can help you secure your retirement. |
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Learn More about Life Insurance
Start a Life Insurance Quote
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| Answer Financial(R) Inc. offers insurance products and services through its licensed affiliates Insurance Answer Center(R) Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc., and other affiliates. Answer Financial is not an insurance company. Insurance plans and services are from insurance companies and other licensed insurance-related providers. Not all products available in all states. Rates subject to change. |
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