I have an option of taking a lump sum vs. annuity.

What is the best way to evaluate? Me:51, DW:45. Family history says I am a longshot to make actuarial longevity, DW is favorite to surpass it. Hence, only annuity with survivor is worth considering.

Annuity with survivor benefit: $300/mo, $250/mo survivor - constant payout for life - not inflation adjusted. 61k lump sum can be rolled into 401k.

Intuition is telling me lump sum is the way to go. Correct??