Payout Option
Option 1
Annuity payable for life at uniform rate. Upon the unfortunate death of the annuitant, the annuity payouts will cease.
Option 2
Annuity payable for life with return of purchase price on death of annuitant
Option 3
Annuity payable for the chosen term of 5/10/15/20 years is guaranteed and after that as long as annuitant is alive. In case of death of annuitant during chosen term, nominee will continue to receive the annuity for balance term.
Option 4
Annuity payable for life at a simple increasing rate of 3% per annum. Upon the unfortunate death of the annuitant, the annuity payouts will cease.
Option 5
Joint Life Last Survivor where the annuity is first paid to the primary annuitant. After the death of the primary annuitant, the second annuitant (spouse) continues to receive the annuity. Upon the unfortunate death of the secondary annuitant, the annuity payouts will cease.
Option 6
Joint Life Last Survivor with return of purchase price. Here the annuity is first paid to the primary annuitant. After the death of the primary annuitant, the second annuitant (spouse) continues to receive the annuity. Upon the unfortunate death of the secondary annuitant, the purchase price is returned to the beneficiary/nominee.
