Tell Me About Annuity Options with Guarantees

Annuities are well known both as an alternative investment vehicle to grow the deposits rather than Bank CD’s, Mutual Funds, Stocks, Bonds, etc. In addition it also provides the reliability and security to the investor.

There are various guaranteed options available to the annuitant to choose from like

• Annuity guaranteed for annuitant's life only (no death benefit)
• Life annuity with 60 guaranteed payments
• Life annuity with 180 guaranteed payments.
• Joint and survivor annuity option with 75% guaranty
• Joint and survivor annuity option with 100% guaranty

All the annuity options are explained below:

Annuity options guaranteed for annuitant's life only:
Under this option the periodic return is payable to you for life only. The monthly annuity payment will terminate at your death. No death benefit is payable to the beneficiary (ies). In this option the annuitant will get the series of monthly payments until he/she live. After death the policy will terminate and no benefit will be paid to any beneficiary.

Life annuity with 60 guaranteed payments:
In this option the payments are guaranteed to the annuitant till death or 60 in number whichever comes later. If annuitant die before 60 payments have been made, the remainder of the 60 payments are paid to your beneficiary (ies).

Life annuity With 180 guaranteed Payments :
Life annuity With 180 Payments Guaranteed is the option payable to annuitant for life. If annuitant die before 180 monthly payments have been made, the remainder of the 180 monthly payments are paid to the beneficiary (ies).

Joint and survivor annuity option with 75% guaranty:
In this option if you die than named survivor will receive 75% of the annuity for life that was payable to you. This option is not available if the named survivor is more than 19 years younger than you and is not your spouse.

Joint and survivor annuity option with 100% guaranty:
The joint survivor annuity option is the option in which 100% of the funds are continued to Named Survivor Combined with 180 Guaranteed Payments.