Claire is retiring in the next month. She was the breadwinner in the family while john was the stay at home dad. They have limited assets but will receive social security. Which of the following is the best type of annuity for her to select?

• a 20 year term certain annuity.
• A straight life annuity on her life.
• A joint life annuity on the lives of Claire and john.
• a joint life annuity on the lives of Claire and john with a 10 year term certain. The best options is an annuity over both of their lives since they do not have a lot of assets. John also does not appear to have a skill to go find work. A 10 year term certain option on the joint life annuity will make the payments go down.