The Best Annuity for Married Retirees

Your decision will also depend on your spouse's estimated life expectancy. If he or she outlives you by a number of years, then your insurance policy will need to be much larger in order to cover the additional payments.

To understand all your options, change the calculator's input values to present different scenarios. That way, you can be sure to get the most out of your retirement dollar while also making sure your spouse is financially secure after you're gone.