What type of annuity is best suited for a couple looking for payments that begin at retirement and continue for as long as they both live?

The choice of a flexible premium deferred annuity with a joint life and survivor payout option is well-suited for a couple seeking payments that commence at retirement and last for the duration of both their lives. This type of annuity allows couples to contribute to the account over time (flexible premium) and ensures that once they retire, they can receive payments that continue as long as either individual is alive.

The joint life and survivor payout option guarantees that payments will sustain throughout the lifetimes of both partners, meaning that if one spouse passes away, the surviving spouse will continue to receive payments. This addresses the couple's need for financial security in retirement, ensuring that neither partner outlives their resources.

The immediate annuity options, while providing payments right at retirement, do not allow for flexibility in contributions or adjustments based on changing needs over the years prior to retirement. The option with a cash refund payout doesn’t specifically guarantee payments for the duration of both lives, which is critical for the couple's long-term financial planning. Lastly, the flexible premium deferred annuity with a 20-year period-certain would limit the benefits received after a certain point, failing to cover both lives effectively if one outlives the designated period.

Overall, the flexible premium deferred