Annuities
There are two types of retirement annuities.
Life annuities can be acquired with or without a guaranteed term. They can also be held jointly on your life and your spouse's. A joint annuity with, say, a 15-year guarantee would provide much lower payments than an unadorned annuity on one life
Term annuities to age 90 are also available. Given increasing life spans, many people can expect to require income beyond age 90 .
