What is the Definition of Joint And Survivor Annuity?

What is the Definition of Joint And Survivor Annuity?

An annuity with two annuitants, usually spouses. Payments continue until the death of the longest living of the two.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Joint And Survivor Annuity?

What is the Definition of Joint And Survivor Annuity?

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Meaning of Fidelity Bond in Insurance Terms

A form of protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.


Meaning of Fiduciary Bond in Insurance Terms

A type of surety bond, sometimes called a probate bond, which is required of certain fiduciaries, such as executors and trustees, that guarantees the performance of their responsibilities.


Meaning of Fiduciary Liability in Insurance Terms

Legal responsibility of a fiduciary to safeguard assets of beneficiaries. A fiduciary, for example a pension fund manager, is required to manage investments held in trust in the best interest of beneficiaries. Fiduciary liability insurance covers breaches of fiduciary duty such as misstatements or misleading statements, errors and omissions.


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