Life & Certain Time Period Annuity

Life & 10 Annuities provide guaranteed income for the rest of the annuitants life or a refund of the principle if they die in the between deposit date and year 10.

What would happen if the annuitant dies during between the opening of the annuity and the 10 year period?

The beneficiaries of the annuity) get one of two payment options

1) An annual payment for the remaining number of years left until the 10 year period has been fulfilled.


2) A refund of any funds that have not been paid out to the beneficiary.

Note: You need to choose which one of the two options you would prefer when we set the annuity up when issued.  There is a small difference in the amount that is paid out on an annual amount based on which method is preferred.

In addition to the annuity refund or continued annual annuity payments, you also get the benefits of being the beneficiary of the life insurance policy (again, on top of the continual payments or the refunded principle amount).

If  the annuity holder outlives the 10 year period of the annuity, his or her annual income from the annuity will continue until she dies.  She can "Never" outlive the initial amount of money (funds) used to issue the annuity which in turn pays for the life insurance premium.  Annual payments are guaranteed to always be there, like clockwork, year after year that will always pay for the life insurance premium.

Next page: CD vs Fixed Annuities