A Guaranteed Income for Life Annuitization is precisely why many people buy an annuity — to ensure a guaranteed income stream. You can convert most deferred annuities at any time, but most people choose to make this change just before retirement. This option:
Joint and Contingent Survivor Life Income A guaranteed income for as long as both of you are living. If the primary annuitant dies first, payments will continue at 50 percent of the payments received when both of you were living. If the contingent annuitant dies first, payments will continue at 100 percent of the payments received when both of you were living. Payments will end when both of you die. Certain Period A guaranteed income over a chosen time period. You can choose to receive a lump-sum payment of your benefits instead of recurring payments at any time. If you die before the end of the specified period, your beneficiary receives those payments until the end of the period - or they may choose a lump-sum payment. Lump sum A lump-sum payment is a one-time payment for the full value of the annuity, rather than recurring payments made over a period of time. Other options may be available.
• Provides a guaranteed income stream
• Allows you to set payments that meet the IRS Required Minimum Distribution • Allows you to pay taxes in smaller, regular payments instead of in a lump sum
Income Options Life Income
A guaranteed income for as long as you are living. Payments will end when the owner of the annuity dies. Life Income with Certain Period A guaranteed income for as long as you are living. If you die before the end of the specified period, your beneficiary receives those payments until the end of the period - or they may choose a lump sum payment. Joint and Survivor Life Income A guaranteed income for as long as both of you are living. When either of you die, payments will continue to the survivor. Reduced payments made to the survivor are available. Payments will end when both of you die. Joint and Survivor Life Income with Certain Period A guaranteed income for as long as both of you are living. When either of you dies, payments will continue at 100 percent of the payments received when both of you were living. If both of you die before the end of the period specified, your beneficiary receives those payments until the end of the period - or they may choose a lump-sum payment.
Policies: SPIA (09/06), ICC11-SPIA (2/11)
Standard Insurance Company
SI 8852 (10/18)
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