Immediate Annuities have five basic product groups. Within these groups are
many more guarantee options. Find the category that fits your situation best.
This option provides a guaranteed income for
one persons life. There are several of type of single life immediate
annuities to fit all types of income situations.
This option provides a guaranteed income
on two lives for as long as either
annuitant is alive. When either annuitant dies, payments continue to the
survivor.
This is a life annuity with payments that increase
or decrease by a set percentage each year.
A annually compounded increase from 1% to 10%. Initial benefit can be substantially lower than
non-COLA annuities.
"If I die the insurance company keeps my
money"This has been a concern of buyers of lifetime annuities. But
our SPIA program solves this concern with the money back guarantee
feature.
Additional Features:
-
Critical Illness Liquidity available-provides lump
sum accelerated benefit.
- Helps clients qualify for financial assistance. (Endorsement makes the
annuity non-transferable, non-assignable, non-commutable, non-surrenderable,
irrevocable, and no cash value.)
- Issue ages: O-100 NQ, 18-100 Q (age last for Annuitant)
More and more the SPIA is being
used to fund the premiums on life and LTC policies. Funds in an SPDA can
be exchanged to an SPIA and life insurance purchased.....
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
Pricing
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.
