What type of annuity is primarily intended for individuals who prioritize health in their retirement planning?

The straight life annuity is primarily designed for individuals concerned about their health during retirement due to its features that provide a guaranteed income for the rest of the retiree's life. This type of annuity ensures that as long as the annuitant lives, they will receive payments, which can be particularly beneficial for those who prioritize health and may have concerns about longevity.

One key advantage of the straight life annuity is that it offers a higher payout compared to other annuities, as the payments cease upon the annuitant's death. This means that for individuals in good health who expect to live longer, they can receive substantial income during retirement without the need for consideration of a survivor benefit that would matter more in the context of joint or survivorship annuities.

In contrast, the joint life annuity typically provides income for two people, making it more suitable for couples rather than individuals focused solely on their health. The survivorship annuity also caters to a different need, as it is designed to provide continued income for a surviving spouse or partner after one party passes away. A health annuity, while it may sound appropriate, is not a widely recognized term in the context of traditional annuities in retirement planning; thus, it