Annuity Payout Options
Understanding your choices for guaranteed retirement income
Life Only (Single Life)
Provides the highest monthly payment but stops when you die. No payments to beneficiaries.
Pros
Maximum income during your lifetime
Cons
Nothing left for heirs if you die early
Life + Period Certain
Guarantees payments for your life OR a minimum period (whichever is longer).
Life + 10 Years
~8% lower than life-only
If you die after 5 years, beneficiaries get 5 more years of payments
Life + 20 Years
~15% lower than life-only
More protection for beneficiaries, lower monthly payment
Joint & Survivor
Payments continue for both you and your spouse's lifetimes.
100% Survivor
~15% lower than life-only
Full payment continues to surviving spouse
50% Survivor
~10% lower than life-only
Half payment continues to surviving spouse
Payout Comparison ($100K Premium, Age 65)
| Option | Est. Monthly | Beneficiary Protection |
|---|---|---|
| Life Only | ~$567 | None |
| Life + 10 Years | ~$522 | Moderate |
| Life + 20 Years | ~$482 | Strong |
| Joint 100% | ~$483 | Spouse Protected |
Choosing the Right Option
Life Only: Best if you have other assets for heirs
Period Certain: Good balance of income and protection
Joint: Essential if spouse depends on your income
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Rates are estimates. Consult a financial advisor for personalized advice.