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joint life annuity

noun

Insurance.

  1. an annuity, the payments of which cease at the death of the first of two or more specified persons.

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Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

If you have a "joint life" annuity, will your spouse or partner have to consent to you cashing in the annuity?

Read more on BBC

This early/late strategy is equivalent to purchasing a second-to-die or joint life annuity.

Read more on US News

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