The type of settlement option which pays throughout the lifetimes of two or more beneficiaries is called joint and survivor. An insurance plan called a joint and survivor annuity is generally made for retired couples who desire a guaranteed monthly income that will last as long as either partner does.
Potential investor must carefully consider associated fees and settlement. Annuity fees typically cost 2.3 percent of annuity's value, although they can be more expensive, especially in sophisticated plans. The benefit of joint and survivor annuity is that it will pay out if one or both beneficiaries live longer than anticipated.
To learn more about settlement, click here
https://brainly.com/question/14854832
#SPJ1
