survivorship annuity

Definitions

  • WordNet 3.6
    • n survivorship annuity an annuity payable to one person in the event that someone else is unable to receive it
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Usage


In news:

At times, the companies issued annuities on a survivorship basis in which the annuity lasted for the longer of two lives.
Every so often, I get a call from an attorney or agent about a deferred annuity that someone decided should be owned in joint tenancy with right of survivorship (JTWROS).
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