Annuity Option |
Payment After Death |
Single Life Annuity |
Option A |
Life Annuity. |
An annuity will be paid in arrears till the annuitant is alive.
No payments after the annuitant's death.
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Option B1 |
Annuity Certain for 5 Years & Life Thereafter |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant dies within the first 5 years, the annuity payments will continue to be paid to the nominee for the remaining 5 years. After 5 years, the payments stop.
If the annuitant dies after 5 years, the policy will terminate, and no annuity payments will be made.
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Option B2 |
Annuity Certain for 10 Years & Life Thereafter |
An annuity will be paid in arrears till the annuitant is alive. If the annuitant dies within the first 10 years, the annuity payments will continue to be paid to the nominee for the remaining 10 years. After 10 years, the payments stop. If the annuitant dies after 10 years, the policy will terminate, and no annuity payments will be made. |
Option B3 |
Annuity Certain for 15 Years & Life Thereafter |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant dies within the first 15 years, the annuity payments will continue to be paid to the nominee for the remaining 15 years. After 15 years, the payments stop.
If the annuitant dies after 15 years, the policy will terminate, and no annuity payments will be made.
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Option B4 |
Annuity Certain for 20 Years & Life Thereafter. |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant dies within the first 20 years, the annuity payments will continue to be paid to the nominee for the remaining 20 years. After 20 years, the payments stop.
If the annuitant dies after 20 years, the policy will terminate, and no annuity payments will be made.
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Option C1 |
Life Annuity Increasing at 3% p.a. |
The annuitant will receive annuity payments in arrears till they are alive.
The annuity amount will increase by 3% per year for each completed policy year, boosting the payments over time.
If the annuitant passes, the annuity payments will stop immediately, and no further benefits will be payable.
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Option C2 |
Life Annuity Increasing at 6% p.a. |
The annuitant will receive annuity payments in arrears till they are alive. The annuity amount will increase by a simple rate of 6% per year for each completed policy year, boosting the payments over time.
If the annuitant passes, the annuity payments will stop immediately, and no further benefits will be payable. |
Option D |
Life Annuity with Return of Balance Purchase Price |
The annuitant will receive annuity payments in arrears till they are alive. If the annuitant passes away, the annuity payments will stop immediately, and the nominee(s) will receive a Death Benefit equal to the Purchase Price balance. If the total sum of annuity payments already made exceeds the original Purchase Price, no death benefit will be payable to the nominee(s). |
Option E1 |
Life Annuity with 50% Return on Purchase Price after age 75 |
An annuity will be paid in arrears till the annuitant is alive.
Suppose the annuitant survives the policy anniversary on or after age 75. In that case, they will receive an early return of 50% of the Purchase Price in addition to their regular annuity payments. Upon the annuitant's death, the annuity payments will stop immediately, and a Death Benefit will be payable to the nominee(s). |
Option E2 |
Life Annuity with 100% Return on Purchase Price after age 75 |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant survives the policy anniversary on or after reaching age 75, they will receive an early return of 100% of the purchase price in addition to their regular annuity payments. Upon the annuitant's death, the annuity payments will stop immediately, and a Death Benefit will be payable to the nominee(s). |
Option E3 |
Life Annuity with 50% Return on Purchase Price after age 80 |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant survives the policy anniversary on or after reaching age 80, they will receive an early return of 50% of the purchase price in addition to their regular annuity payments. Upon the annuitant's death, the annuity payments will stop immediately, and a Death Benefit will be payable to the nominee(s). |
Option E4 |
Life Annuity with 100% Return on Purchase Price after age 80 |
An annuity will be paid in arrears till the annuitant is alive.
If the annuitant survives the policy anniversary on or after reaching age 80, they will receive an early return of 100% of the purchase price in addition to their regular annuity payments. Upon the annuitant's death, the annuity payments will stop immediately, and a Death Benefit will be payable to the nominee(s). |
Option E5 |
Life Annuity with 5% Return of Purchase Price from ages 76 to 95 |
An annuity will be paid in arrears till the annuitant is alive.
On each policy anniversary from age 76 to age 95, the annuitant will receive an additional 5% of the Purchase Price as an Early Return, in addition to their regular annuity payments. If the annuitant passes away, the annuity payments will stop immediately. The Death Benefit will equal the Purchase Price minus any early return of the Purchase Price that has already been paid. If the annuitant has already received 100% of the Purchase Price in Early Returns before their death, no additional benefit will be payable on death. |
Option F |
Life Annuity with Return of Purchase Price |
An annuity will be paid in arrears till the annuitant is alive. Payments stop on death, and the nominee gets the death benefit equal to the purchase price. |
Joint Life Annuity |
Option G1 |
Joint Life Annuity with 50% to Secondary Annuitant after death. |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive.
The secondary annuitant receives 50% of payments after the primary annuitant's death until their death. |
Option G2 |
Joint Life Annuity with 100% to Secondary Annuitant |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive.
The secondary annuitant receives 100% of payments after the primary annuitant's death until their death. |
Option H1 |
Joint Life Annuity Increasing at 3% p.a. with 50% to Secondary Annuitant |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive.
Each year, the annuity payment will increase by 3% as long as the Primary Annuitant is alive. When the Primary Annuitant dies, the Secondary Annuitant will receive 50% of the annuity that would have been paid to the Primary Annuitant. This will continue as long as the Secondary Annuitant is alive. If the Secondary Annuitant dies before the Primary Annuitant, the Primary Annuitant will continue to receive the entire annuity, and payments stop when the Primary Annuitant dies. |
Option H2 |
Joint Life Annuity Increasing at 6% p.a. with 50% to Secondary Annuitant |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive.
The annuity payment will increase by 6% each year for as long as the Primary Annuitant is alive. When the Primary Annuitant dies, the Secondary Annuitant will receive 50% of the annuity that would have been paid to the Primary Annuitant. This will continue as long as the Secondary Annuitant is alive. If the Secondary Annuitant dies before the Primary Annuitant, the Primary Annuitant will continue to receive the entire annuity, and payments stop when the Primary Annuitant dies. |
Option I1 |
Joint Life Annuity Increasing at 3% p.a. with 100% to Secondary Annuitant |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive. Upon the death of the last surviving annuitant (either the primary or secondary annuitant), the annuity payments will stop immediately, and no further payment will be made. The annuity payments will increase by 3% per annum for each completed policy year as long as the Primary or Secondary Annuitant remains alive. |
Option I2 |
Joint Life Annuity Increasing at 6% p.a. with 100% to Secondary Annuitant |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive. Upon the death of the last surviving annuitant (either the primary or secondary annuitant), the annuity payments will stop immediately, and no further payment will be made. The annuity payments will increase at a simple rate of 6% per annum for each completed policy year as long as either the Primary or Secondary Annuitant remains alive. |
Option J |
Joint Life Annuity with 100% to Secondary Annuitant & Return of Purchase Price on Death of Last Survivor |
Annuity payments will be made in arrears if either the Primary Annuitant or the Secondary Annuitant is alive.
Upon the death of the last surviving annuitant (either the primary or secondary annuitant), the annuity payments will stop immediately, and the full purchase price will be returned to the nominee(s). |