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Joanna and her spouse, Bill, have a $40,000 annuity that pays them $200 a month. Bill dies and Joanna continues receiving the $200 monthly check

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Joanna and her spouse, Bill, have a $40,000 annuity that pays them $200 a month. Bill dies and Joanna continues receiving the $200 monthly check as long as she dies, the payments cease. This is an example of lives. When Joanna a life annuity a cash refund annuity an installment refund annuity. a joint and full survivor annuity

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