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Life Income/No Refund: Payments are made for the Annuitant's lifetime. No further payments are due after the Annuitant's death.
Life Income with 5 Years, 10 Years, 15 Years or 20 Years Guaranteed: Payments are made for the Annuitant's lifetime. If the Annuitant's date of death is within the guaranteed period you selected, payments will be made to the Beneficiary for the balance of the guaranteed period. The guaranteed period cannot be changed after the contract is issued.
Life Income/Full Cash Refund: Payments are made for the Annuitant's lifetime. At the time of the Annuitant's death, the death benefit payable to the Beneficiary is equal to the premium as of the First Payment Date less the number of payments received immediately prior to your date of death.
Period Certain Income Guaranteed for 5 Years, 10 Years, 15 Years or 20 Years: Payments are made to the Payee for the guaranteed period. If the Annuitant's death is within the guaranteed period you selected, payments will be made to the Beneficiary for the balance of the guaranteed period. No further payments will be made after the guaranteed period ends. The guaranteed period cannot be changed after the contract is issued.
Contingent Annuitant with continuance of 50%, 66 2/3%, 75%, 100%: Payments are made for the Annuitant's lifetime. After the Annuitant's date of death, payments will continue for the lifetime of the Contingent Annuitant, if still living on the date of the Annuitant's death, based on the elected continuation percentage. If the Contingent Annuitant predeceases the Annuitant, the Payee will continue to receive payments. Neither the percentage nor the Contingent Annuitant can be changed after the contract is issued.
Joint Annuitant with continuance of 50%, 66 2/3%, 75%, 100%: Payments are made for the lifetime of the last to die of the Annuitant and the Joint Annuitant. Upon the first death, the payments will continue to the survivor based on the elected continuation percentage. Neither the percentage nor the Joint Annuitant may be changed after the contract is issued.
Guaranteed Lump Sum (May only be elected in addition to receiving periodic payments). A Guaranteed Lump Sum will become payable in an amount(s) and on the date(s) as you specify.
Fixed Annual Benefit Increase for 1%, 2%, 3%, 4%, 5%, 6%: Payments will be increased each year by the percentage elected over the prior year's benefit. The first increased benefit will occur on the anniversary of the First Payment Date. This option may be elected with any of the above forms of annuity, but cannot be elected if a Guaranteed Lump Sum option is elected.
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