Product Details

During the Income Phase, payments continue for as long as either annuitant lives. When selecting this option, you choose for 100%, 66 2/3%, or 50% of the payment to continue to the surviving annuitant after the first death, or 100% of the payment to continue to the annuitant on the second annuitant's death and 50% of the payment to continue to the second annuitant on the annuitant's death. You can also select this option with Guaranteed payments, i.e. payments for as long as either annuitant lives, with payments guaranteed for your choice of 5 to 30 years.

During the Income Phase, payments continue for as long as the annuitant lives. All payments end upon the annuitant's death.

During the Income Phase, payments continue for as long as the annuitant lives, with payments guaranteed for your choice of 5 to 30 years. If the annuitant dies before we have made all the guaranteed payments, we will continue to pay the beneficiary the remaining payments. Unless prohibited by a prior election of the contract holder, the beneficiary may elect to receive a lump-sum payment equal to the present value of the remaining guaranteed payments.

During the Income Phase, payments continue for as long as the annuitant lives. Following the annuitant's death, we will pay a lump-sum payment equal to the amount applied to the income phase payment option (less any premium tax) and less the total amount of fixed income phase payments paid. If there are two annuitants, payments continue for as long as either annuitant lives and 100% of the payment continues after the first death. When both annuitants die, we will pay a lump-sum payment equal to the amount applied to the income phase payment option (less any premium tax) and less the total amount of fixed income phase payments paid.

If the Period Certain payments option is elected with variable payments, you may request at any time that all or a portion of the present value of the remaining payments be paid in one lump sum. A lump sum elected after income phase payments have been completed will be treated as a withdrawal during the accumulation phase and early withdrawal charges may apply. The withdrawal charge is based on completed purchase payment periods, and each year that passes after the income phase begins will be treated as a completed purchase payment period, even if no additional payments are made.

During the Income Phase, payments will continue for the number of years you choose, based on what is available under the contract. Under some contracts, for amounts held in the Fixed Plus Account during the accumulation phase, the payment must be on a fixed basis and must be for at least 5 years. In certain cases, a lump sum payment may be requested at any time (see Lump Sum above). If the annuitant dies before we make all of the guaranteed payments, we will continue to pay the beneficiary the remaining payments. Unless prohibited by a prior election of the contract holder, the beneficiary may elect to receive a lump-sum payment equal to the present value of the remaining guaranteed payments. We will not impose any early withdrawal charge.