When planning the retirement payout, there are several options from which to choose. With ______________ option, the annuity provides payments over the life of both you and yor spouse.
A. lump sum annuity
B. single life annuity
C. annuity for life
D. combination annuty
Is the answer C
I agree.
Yes, the answer is C. The option that provides payments over the life of both you and your spouse is called an "annuity for life."
To arrive at this answer, you can break down the question and carefully analyze each option:
A. Lump sum annuity: This option involves receiving the entire retirement payout as a single lump sum payment, rather than receiving regular installments or payments over time.
B. Single life annuity: This option provides payments for the life of only one individual, typically the retiree. Once that individual passes away, the payments cease.
C. Annuity for life: This option ensures that both you and your spouse receive payments for the entirety of your lives. This annuity continues to pay out even after one of you passes away.
D. Combination annuity: This option refers to combining different annuity types or features to suit your specific retirement needs. It does not specifically guarantee payments over the life of both you and your spouse like option C.
Therefore, based on the descriptions of each option, C—annuity for life—is the correct answer.