Immediate Annuities have five basic product groups. Within these
groups are many more guarantee options. Find the category that fits your situation best.
Guaranteed Single Lifetime Income Options
A Single Life Immediate Annuity guarantees you will never outlive your income. The SPIA provides
a regular, guaranteed income payments for life. In retirement planning the SPIA is the only product that guarantees you will
never outlive your retirement income.
Key Benefits
 |
Longevity protection - Guaranteed
an income that can not be outlived. |
|
Stable level income - The guaranteed
payment will never decrease. |
|
Inflation protection - A single
life annuity has an option that guarantees increases annually. |
Single Life Pricing Options
| Type |
Description |
| Life ONLY |
The income
payments will cease upon death |
| Life With Period Certain |
This option
provides a guaranteed income for life plus if death occurs prior to the end of a specified period (5 to 50 years) the payments
will be transferred to the beneficiary for the remainder of that period. |
| Life With Refund (money back guarantee) |
This option provides a guaranteed income for life and also guarantees the total of
the payments received will never be less than the total of the funds paid to purchase this option or the (principal). If death
occurs before receiving at least that amount, your beneficiary will continue to receive payments until the full amount is
repaid. |
Guaranteed Joint Lifetime Income Options
A Joint Life Immediate Annuity provides a guaranteed income for as
long as either joint annuitant is alive. When either annuitant dies, payments continue to the survivor and can be a partial
percentage, such as two-thirds, or a full 100% of the payments received when both were living.
Key Benefits
|
Longevity protection - Guaranteed
an income that can not be outlived. |
|
Direct deposit - Payment can be
sent directly to a bank account. |
|
Inflation protection - A joint
life annuity has an option that guarantees increases annually. |
Joint Life Pricing Options
| Type |
Description |
| Joint Life ONLY |
The income
payments will cease after death of both annuitants. As long as one is alive payments continue. |
| Joint Life With Period
Certain |
This option
provides a guaranteed income for both lives plus if both die prior to the end of a specified period (5 to 50 years) the payments
will be transferred to the beneficiary for the remainder of that period. |
Joint Life With Refund
(money back guarantee) |
This option provides a guaranteed income for both lives and also guarantees the total
of the payments received will never be less than the total of the funds paid to purchase this option or the (principal). If
both die before receiving at least that amount, your beneficiary will continue to receive payments until the full amount is
repaid. |
| Joint Life Contingent Survivor |
This option provides a guaranteed income for as long as you or your joint annuitant
lives. If you die first, the joint annuitant will receive a reduced amount from 75% to 33% of the payments you received while
living. If the joint annuitant dies first, you will continue to receive 100% of the payments for as long as you live. Can
also reduce on either death to increase initial payment. If a period certain option is selected as well the payment will only
reduce after that period even is death occurs. |
|
