Choosing the right annuity

via @globeandmail

Choosing the right annuity: Frank and Frances' Story

There is something weird and unexplained in the thinking here.

Why would anyone take the "high income" choice when it is only $70 more for one person for 10 years than "the middle road" version for both persons forever?

And why do they regard it as "less"? "Less" than what? It lasts them both a lifetime so it cannot be compared to the other 2 options.

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Choosing the right annuity: Frank and Frances' story

— Globe Investor (@globeinvestor) March 3, 2014