For a married couple, the most important annuity choice is often not the carrier — it’s what happens to the income when one of you dies.
Single life
Pays for as long as one person lives. It pays the most per month, and stops at that person’s death unless a guarantee option applies.
Joint and survivor
Pays while either spouse is alive. You choose how much continues to the survivor — commonly 100%, 75% or 50%. A higher survivor percentage means a lower check while you’re both alive.
Example, $250,000 at 65, life only, before tax: a single man receives about $1,639–$1,750 a month. A same-age couple choosing 100% to the survivor receives about $1,351–$1,459 — and that amount continues in full for whichever spouse lives longer. (Our joint estimates assume same-age spouses and 100% to the survivor.)
Estimates modeled from published carrier quote surveys as of October 1, 2026, and calibrated against live carrier quotes from October 2026; before tax. Exact quotes vary by carrier, state, and premium size.
How to think about the choice
- Will the survivor’s bills drop? Some costs fall after a death; housing often doesn’t.
- What else changes? Usually one Social Security check stops at the first death — the survivor keeps the larger of the two.
- Health and age gap. A big age or health difference changes the math; ask for quotes at several survivor percentages.
- Other assets. Life insurance or other savings can sometimes cover the survivor more cheaply than a higher survivor percentage.
