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With an immediate annuity (income annuity),
you can customize your income payments to best fit your lifestyle and
income needs. The valuable flexibility of an immediate annuity
allows you to determine payment frequency and the period of time that
you receive them, as well as how you receive your payments.
Whether you want to receive your payments
monthly or yearly is up to you. You can elect to have income payments
for life or for a specified period. You are in charge and you can pick
the immediate annuity that best meets your income needs.
Choosing
the payout option that meets your needs
There
are several different types of payout options. The type of payout option
you choose determines your payment amount and your flexibility to leave
payments to heirs. Example below are basic options. Many income variations
are available to you to meet your specific needs. A customized quote is
highly recommended and available. request
info annuity quote
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Lifetime
Income with Certain Period
Benefits can continue for a certain period of time or a lifetime,
whichever is greater. If the annuitant dies before the time period
has ended, the remainder of the payments for the time period will
be made to a beneficiary. request
info annuity quote |
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Lifetime
Income
This option allows for the highest lifetime benefit payments or lowest
premium for a specific lifetime payment since there is no guaranteed
number of payments. Payments continue for life and end upon the death
of the annuitant. request
info annuity quote
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Certain
Income
Benefits will continue for a guaranteed certain period from 5 to 50
years. If the annuitant (usually the owner of the annuity)
dies before the certain period is over, the remainder of the payments
for the period of time will be made to a beneficiary. If the
annuity contains after-tax dollars, the specified period of time plus
the annuitant's age cannot exceed the age of 100. If the annuity contains
pre-tax dollars, the time period cannot exceed the annuitant's life
expectancy. request
info annuity quote
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Life
Income with Cash Refund
Benefits can continue for life. If the annuitant dies before the premium
amount is paid, the remainder of the "unearned" premium,
as a lump sum, will be paid to a beneficiary. request
info annuity quote
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Lifetime
Income with Installment Refund
Benefits can continue for life. If the annuitant dies before the initial
premium is recovered, the annuity payments will continue to be made
to the beneficiary in installments until the balance of the premium
has been refunded.
request
info quote
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