Annuity Payout Options

Question 1

Guaranteed income for the annuitants lifetime. No further payments are made to anyone after the annuitants death

Answer 1

Straight life income payout

Question 2

Annuitant receives a fixed payment until the contract value is exhausted. Beneficiary receives remainder after death until contract depleted

Answer 2

Fixed amount option

Question 3

Guaranteed income for life. Lump sum payment of remaining funds to beneficiary

Answer 3

Cash refund option

Question 4

Guaranteed income for life. Beneficiary receives same payments after annuitants death until money is gone

Answer 4

Installment refund option

Question 5

Guarantee payments for the life of the annuitant or for a specific period of time for the beneficiary. Beneficiary receives payments for a minimum number of years regardless of when the annuitant dies

Answer 5

Life with period certain payout