joint and last survivor annuity

noun Insurance.

an annuity payable until the death of the last of two or more designated persons, though sometimes with reduced amounts after the first such person dies.

Nearby words

  1. joiner,
  2. joiner door,
  3. joinery,
  4. joint,
  5. joint account,
  6. joint bar,
  7. joint capsule,
  8. joint chiefs of staff,
  9. joint committee,
  10. joint compound Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019