The Ultimate Guide To AnnuitiesYour One-Stop Resource for Retirement
What payout options do I have?
The conditions that will define our payments will be settled when we invest in our annuity. Usually the options are:
Income for a guarantee period, where a fixed amount is fixed for a time span. If we die before the end of that time, the beneficiaries will continue to receiving these payments until the period ends.
Lifetime Payments, for this payment system your annuity will guarantee payments for the rest of your life, but unlike other payment schedules, there will not be survivor benefits. The amount payed to you will depend on how much money you invested and your life expectancy and it can be a fixed or variable amount.
Life incomes with life period certain, a combination of lifetime payments and guaranteed payout. In this system is defined a period of guaranteed payments and an extra certain phase where the beneficiary will receive payments for the remainder time after you die.
Another option are de joint and survivor annuity, where payments will continue for your beneficiaries for the rest if their lives after you die.