Banking Awareness - Types Of Bank Accounts
Which joint account type is most suitable for spouses who want smooth continuation of account after the death of one partner?
Which joint account type is most suitable for spouses who want smooth continuation of account after the death of one partner?
medium Q15 of 15
Step-by-Step Solution
Step 1: Identify the requirement.
The account should continue smoothly for the survivor.Step 2: Match with suitable joint account.
Either or Survivor allows operation by either and continuation by survivor.Final Answer:
Either or Survivor → Option DQuick Check:
Either can operate + survivor continues = Either or Survivor ✅
Quick Trick: Family continuity = Either or Survivor.
Common Mistakes:
- Choosing Jointly which complicates post-death operation.
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