A “Joint and ½ Survivor” distribution option means which of the following statements is correct?

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A “Joint and ½ Survivor” distribution option means which of the following statements is correct?

A

When one of the joint annuitants dies, the survivor’s continuing payments will be one-half of the total payment both were receiving

B

The annuitant receives a full share of the annuity payment each month, and the beneficiary receives a one-half share of the payment

C

The annuitant receives a full share of the annuity payment and the spouse receives an additional one-half of that

D

There are two annuitants named in the policy and each contributes one-half of the monthly premium or the lump sum that establishes the annuity

Answer: A

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