Joint Annuitant

A Joint Annuitant is typically a spouse or partner linked to an annuity policy. Their life expectancy is crucial in shaping the payout structure of the annuity component within the policy. Key aspects include:

• Joint-Life Annuity Setup: In an IUL policy, this setup ensures that, after the demise of one annuitant, the survivor continues receiving benefits.
• Continuous Income Stream: This feature ensures that beneficiaries receive a steady flow of funds.
• Retirement and Estate Planning: Including a joint annuitant can be a pivotal strategy in these planning processes.

This setup is particularly significant in joint-life annuities within an IUL policy, offering financial security and continuous support for the surviving party.