The Barksdales also worry about longevity risk given their family history and healthy lifestyle. Both spouses want an annuity for their later years (beginning in 40 years) that will ensure the greatest supplemental, level income stream relative to the cost. The Barksdales are willing to forgo the right to cash out the policy.
Which type of annuity best satisfies the Barksdales’ desire for supplemental income in their later years?
Deferred fixed
Deferred variable
Advanced life deferred