Immediate Annuities - Options

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SINGLE LIFE
A Single Life Immediate Annuity guarantees you will never outlive your payments. The SPIA provides regular, guaranteed payments for life. In retirement planning, the SPIA is the only product that guarantees you will never outlive your retirement payments.

Life ONLY:
The payments will cease upon death.

Life With Period Certain:
This option provides guaranteed payments 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 Guarantee:
This option provides guaranteed payments for life and also guarantees the total of the payments received will never be less than the total of the premium paid to purchase this option.

Key Benefits:
Longevity protection - Guaranteed payments that cannot be outlived.
Stable level payments - The guaranteed payment will never decrease.
Inflation protection - A single life annuity has the option to guarantee increases annually.
Direct deposit - Payments can be sent directly to a bank account.

JOINT LIFE
This option provides guaranteed payments for as long as either joint annuitant is alive. When either annuitant dies, payments continue to the survivor and can be a partial percentage, such as two-thirds, or a full 100% of the payments received when both were living. If you select the Joint and Survivor Annuity option, you may also add a Period Certain option of 5 to 30 years. There are a few refund options available for joint lives.

Joint Life ONLY
The payments will cease after death of both annuitants. As long as one is alive, payments continue.

Joint Life With Period Certain
This option provides guaranteed payments for both lives plus, if both die prior to the end of a specified period (5 to 50 years), the payments, in the same amount, will be transferred to a named beneficiary for the remainder of that specified period.

Joint Life With Refund
This option provides guaranteed payments for both lives and also guarantees the total of the payments received will never be less than the total of the premium paid to purchase this retirement payment option. If both annuitants die before receiving at least the premium paid, your named beneficiary will continue to receive payments until the full amount is repaid.

Joint Life Contingent Survivor
This option provides guaranteed payments for as long as you or your joint annuitant lives. If you die first, the joint annuitant will receive the reduced amount designated by you, which can be from 75% to 33% of the payments you received while living. If the joint annuitant dies first, you will continue to receive 100% of the payments for as long as you live. If a period certain option is also selected, the initial payment amount will only reduce after the period certain selected by you has been satisfied.

Key Benefits:
Longevity protection for two lives - Guaranteed payments that cannot be outlived
Direct deposit - Payments can be sent directly to a bank account
Inflation protection - A joint life annuity has an option that guarantees increases annually

PERIOD CERTAIN ONLY
This option provides guaranteed payments for a specified time period (5 to 50 years). If death occurs prior to the end of the chosen period, the beneficiary will continue to receive payments for the remainder of the specified period.

Key Benefits
Versatility - Gives the ability to receive payments for a very specific period (for example, 5 years and 8 months)
Automatic payments - Pay bills, life insurance, child support, and never be late or miss a payment
Direct deposit - Payments can be sent directly to a bank account
Great for laddering

DEFERRED START DIA
Sometimes clients want to start a payment stream at a certain time in the future. A DIA can be purchased with a guaranteed payment stream that starts as far out as perhaps 40 years. This can be a valuable planning tool where a 60-year-old client may want $1,000 per month for life starting at age 75. The DIA can guarantee both the premium and benefit.

Key Benefits
Longevity payments guaranteed for the future and QLAC approved

SPLIT or COMBO ANNUITY
A Split Annuity combines a Multi-Year Guarantee Annuity (MYGA) with a matching duration Single Premium Immediate Annuity (SPIA).
The MYGA will grow back to the initial premium while the SPIA will provide a payment stream that may offer a tax exclusion ratio.

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Not all products are available in all states. We do not offer tax or legal advice. Fixed annuities are insurance products.
Rates shown are subject to change at any time. For firm confirmation of current rates, a written proposal should be requested by calling call (800) 373-9697.
Withdrawals prior to age 59 1/2 may be subject to a 10% penalty tax. Managing general agency - CA Insurance License #0B67385

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