The annuitant is the person(s) whose life expectancy and gender is used to determine the amount of the annuity payment under a lifetime annuity option. An annuitant may or may not be the owner of a contract.
Annuity Payments One of the biggest advantages annuities offer is the ability to receive an income for the rest of your life. An annuity is the only financial product that provides this unique feature. Keep in mind that once you annuitize, liquidity is limited, and although you are provided with a steady amount, this amount might not keep up with inflation over time. There are many different annuity options to choose from and the best choice for you will depend on a variety of factors, including whom you want to cover and your time horizon.
SINGLE LIFE
SPECIFIC # OF YEARS
Choose an Option JOINT LIVES
Contract Value Converted
Annuity Payments Provided Choose monthly, quarterly, semi-annually, or annually
Choosing an Annuity Option Keep the following in mind if you choose to annuitize your contract:
• The earliest date you can annuitize is five years after your contract is issued or the end of the initial guarantee period — whichever is sooner. (Thirteen months after issue for contracts issued in Florida). • Surrender charges never apply to annuitization. • MVA may apply to annuitization if it occurs before the window period of a multi-year guarantee period. • When annuitizing your Premier Voyage contract, you are also permitted to choose any annuity option available under a single premium immediate annuity that we offer at the time you annuitize.
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