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How Do Different Types Of Annuities Work?
Joint Life Annuity: Annuities are paid until either you or your spouse is alive.
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Seven Types of Annuity Plans
Joint life annuity with return of purchase price: Best for protecting pension for your spouse and leaving a legacy for your children. These annuities are paid until you or your spouse is alive. After the demise of both, the nominee will get the amount initially invested.