James is an annuitant receiving monthly payments from a variable annuity under a joint and 2/3 to the survivor option. What will the surviving annuitant receive when the primary annuitant dies?
Monthly payments for life of a dollar value of two thirds of the annuity units that were previously being distributed
The surviving annuitant receives 2/3 of the value of the units. The number of units remains fixed, but their value varies.
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