Common use of Joint and Last Clause in Contracts

Joint and Last. Survivor Annuity - We will make monthly Annuity Payments for the life of two Annuitants and thereafter for the life of the Survivor, ceasing with the last payment due prior to the Survivor’s death.

Joint and Last. Survivor Annuity - We will make monthly Annuity Payments payable for the life of two Annuitants and thereafter for the life joint lifetimes of the Survivor, ceasing Annuitant and designated Joint Annuitant. The payments end with the last payment due prior to before the Survivor’s survivor's death. If this option is elected, the contract and payments shall be the joint property of the Annuitant and the designated Joint Annuitant.