What is a joint-life annuity?
A joint-life annuity pays an income for as long as either you or your partner is alive. When the first person dies, a chosen percentage of the income — commonly 50%, 66% or 100% — continues to the survivor for the rest of their life. It is designed to protect a spouse or partner who would otherwise lose the income when the annuitant dies.
| Provider | Survivor options | Indicative joint rate at 65 | Notable for |
|---|---|---|---|
| Legal & General | 50% / 66% / 100% | ~6.3% (100% survivor, level) | Competitive joint rates |
| Aviva | 50% / 66% / 100% | ~6.2% (100% survivor) | Brand, existing customers |
| Canada Life | Flexible %, enhanced | ~6.4% (100% survivor) | Enhanced joint options |
| Just | Flexible %, enhanced | ~6.4%+ (health-based) | Enhanced for health |
| Standard Life | 50% / 66% / 100% | ~6.1% (100% survivor) | Guidance-led service |
The cost of protecting your partner
A joint-life annuity pays less than a single-life one because the insurer expects to pay out over two lifetimes. On a £100,000 pot at 65, a single-life level annuity might pay around 7.2% (£7,200), whereas a joint-life annuity paying 100% to the survivor might start around 6.3% (£6,300). The lower starting income buys peace of mind that your partner keeps an income for life.
Choosing the survivor percentage
A 100% survivor benefit gives the most protection but the lowest starting income. A 50% benefit pays more upfront but halves the survivor's income — which can work if their living costs would fall, or if they have their own pension. The right percentage depends on your partner's other income and your joint expenses.
Verdict
Canada Life and Just lead where health enhancements apply, while Legal & General and Aviva are consistently competitive on standard joint rates. As always, compare the whole market for your exact ages and options. Compare single-life rates in our best annuity rates guide, check enhancement in our enhanced annuity guide, and weigh flexibility in our best drawdown providers guide.