Simplicity – Place your initial premium into this type of annuity and once you hit the predetermined payout age, you begin receiving income from the plan. No market fluctuations to worry about!
Pricing Discount – Initial premium required can be significantly cheaper than other deferred annuity options that you later convert to an income stream. See the following example:
|
Name |
Current Age |
Payment Start Age |
Monthly Income Payment |
Initial Deposit (Longevity Annuity including a Return of Premium feature*) |
Initial Deposit (Standard Deferred Annuity) |
|
Miguel |
60 |
80 |
$3,742 |
$100,000 |
$147,000 |
|
Miguel |
60 |
85 |
$7,324 |
$100,000 |
$195,000 |
|
Maria |
60 |
80 |
$3,253 |
$100,000 |
$135,000 |
|
Maria |
60 |
85 |
$6,152 |
$100,000 |
$172,500 |
*Return of Premium feature allows your beneficiary to receive a refund of premium up to the amount you initially deposited should you pass away prior to receiving at least the amount you deposited. See specific contract rules for further detail.
