What are the typical income options within an annuity?
• Single Life Income Options – This option provides a series of monthly installments over the lifetime of the annuitant and has no surrender or withdrawal provisions. • Joint Life Income Options – This option provides a series of monthly installments while either of the joint annuitants is alive and has no surrender or withdrawal provisions. • Fixed Period Options – This option provides a series of installments for a fixed period of time. For example, choosing the 60-month option will pay a monthly income for five years.[Return to Top] How do I change my beneficiary? A Change of Beneficiary form can be downloaded from the Fixed Annuities Forms page. Send the original form, signed by the owner, to our office to be reviewed and recorded. You may want to keep a copy for your records. [Return to Top] What are the benefits of an annuity? • Tax-deferred growth. You will not pay current income taxes on interest earned in an annuity while it accumulates as long as funds are not withdrawn or di
