how do you decide on J&S or single life annuity payments?

[Anonymous]

I ignorant about this. I really have no idea if everything below is relevant in making a choice, or if it's a no-brainer regardless of any situation.

Annuity is husband's and payments will begin immediately at retirement.
Husband will be 50 at retirement.
Wife will be 46.
Annuity is ~$300 per month less if we choose J&S.
It's 100% J&S.

Both are in good health, though husband is currently being treated for oropharyngeal squamous cell carcinoma. (We do not know the extent yet.) Decision on the annuity may need to be made prior to the outcome of the cancer treatment.

How are decisions like this made?

[Anonymous]

Survival benefit all the way. It's an easy one.

[Anonymous]

Anonymous wrote:Survival benefit all the way. It's an easy one.

thank you. Out of curiosity, did that answer have anything to do with the health situation, or are survivor benefits always the best answer?

[Anonymous]

OP here... I was mistaken. The annuity is 55%, not 100%.

[Anonymous]

If you would miss his income if he died then get the survivor. That is usually the case but sometimes people have enough life insurance (that will be still be in force into retirement) or have enough other assets that they figure it doesn't matter.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Survival benefit all the way. It's an easy one.

thank you. Out of curiosity, did that answer have anything to do with the health situation, or are survivor benefits always the best answer?

generally speaking, women live longer than men. so in our case (i'm DH), not having a few hundred dollars/month is not a huge impact on our retirement while we are both still living. assuming i will check out first, having that monthly check will be a tremendous help to my dw (or whomever outlives the spouse).

[Anonymous]

Wait - people still buy annuities??!?

[Anonymous]

So they will let you modify the annuity while undergoing cancer treatment? Are you buying it now?

My sniff test says that if they seem willing to take on that much risk it must be a bad deal somehow.

http://www.businessinsider.com/ric-edelman-why-annuities-are-a-raw-deal-2017-4

[Anonymous]

Anonymous wrote:So they will let you modify the annuity while undergoing cancer treatment? Are you buying it now?

My sniff test says that if they seem willing to take on that much risk it must be a bad deal somehow.

http://www.businessinsider.com/ric-edelman-why-annuities-are-a-raw-deal-2017-4

Never mind. Annuity not life insurance. They are betting on your bad outcome. Good luck and sorry for your illness