Answer Book question
Usually yes, if the wife has no independent income. A single-life annuity stops when the husband dies, which is exactly when a widow in her seventies needs it. Joint-life pays a slightly lower amount but continues, often at 50 or 100 percent, to the surviving spouse.
Usually yes, if the wife has no independent income. A single-life annuity stops when the husband dies, which is exactly when a widow in her seventies needs it. Joint-life pays a slightly lower amount but continues, often at 50 or 100 percent, to the surviving spouse.
A retiree buys a single-life annuity. He dies at 74. His wife, 71, loses the ₹11,000 a month overnight. A joint-life option would have paid ₹10,200 a month until her death.
Joint-life annuities cover two lives; the reduction reflects the longer expected payout. Options include 50 percent or 100 percent to survivor.
Wife's own income and pension Age difference Survivor percentage offered Return of purchase price option combined
Choosing single-life for the higher number without thinking about the survivor.
Kerala widows frequently outlive husbands by a decade or more. Plan for her.
Single life ₹11,000 vs. joint 100 percent ₹10,200 vs. joint with return ₹9,500. The ₹800–1,500 difference buys the wife a lifetime income.
If the wife has a strong independent pension, single-life for him may be rational.
Choose joint life with 100 percent to survivor unless there is a strong reason not to
Should I buy an annuity? What happens to the annuity after both spouses die?
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India Post / SCSS rules · IRDAI annuity product guidance · RBI deposit insurance (DICGC) limits · Kerala Social Security Mission and Social Justice Department for pension schemes Rates, limits and whether you may qualify change. Confirm with the official source. Ask Kerala Rising: Send us your parents' rough monthly expenses, their income sources and what lump sum exists. We will help you see whether it holds up. and what to organise before there is an emergency. WhatsApp +1 443 595 9000 · keralarising.com Kerala Rising › Seniors › Retirement · Retirement 11
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