34. Morris, aged 60, is retiring because of poor health and a shortened life expectancy. His...

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34. Morris, aged 60, is retiring because of poor health and a shortened life expectancy. His wife Shelly, who is 58, will retire at the same time. She is in excellent health but has limited retirement assets, having lived in Canada only 10 years. Morris holds significant RRSP assets which will be used for retirement options. The couple has a need for immediate income, but also recognizes that their investment decision must consider the likelihood that Shelly will outlive Morris by several decades. Longevity and inflation are thus important concerns. Which one of the following investment options would be most appropriate for them? 100% in a joint life impaired annuity. 100% in a joint and last survivor life annuity. 50% in a joint life impaired annuity, and 50% in a segregated equity fund. 50% in a joint and last survivor life annuity, and 50% in a segregated equity fund. Choose 1 option. 34. Morris, aged 60, is retiring because of poor health and a shortened life expectancy. His wife Shelly, who is 58, will retire at the same time. She is in excellent health but has limited retirement assets, having lived in Canada only 10 years. Morris holds significant RRSP assets which will be used for retirement options. The couple has a need for immediate income, but also recognizes that their investment decision must consider the likelihood that Shelly will outlive Morris by several decades. Longevity and inflation are thus important concerns. Which one of the following investment options would be most appropriate for them? 100% in a joint life impaired annuity. 100% in a joint and last survivor life annuity. 50% in a joint life impaired annuity, and 50% in a segregated equity fund. 50% in a joint and last survivor life annuity, and 50% in a segregated equity fund. Choose 1 option.