It builds tax-deferred cash value, which provides money for emergencies, your children’s education, a dream vacation or supplemental retirement income
Joint and Survivor Life Income Plan Receive principal and earnings in monthly payments that continue as long as you or your joint annuitant is living. Withdrawals from this plan are not allowed during the lifetime of both annuitants. This plan offers five options:
- Joint Life 100% Survivor Receive monthly payments in amounts that vary due to market fluctuations for the annuitant’s lifetime, the lifetime of the joint annuitant, or for the period you choose, whichever is latest. Upon the death of the first to die, payments continue and are payable to the survivor. No withdrawals or income plan transfers are permitted. Time period is 0 to 20 years.
- Joint Life with Two-Thirds to Survivor Receive monthly payments in amounts that vary due to market fluctuations for the annuitant’s lifetime, the lifetime of the joint annuitant, or the period you choose, whichever is latest. Upon the death of the first to die, payments reduce to two-thirds (2/3) of the monthly payment and are payable to the survivor. No withdrawals or income plan transfers are permitted. Time period is 0 to 20 years.
- Joint Life with One-Half to Survivor Receive monthly payments in amounts that vary due to market fluctuations for the annuitant’s lifetime, the lifetime of the joint annuitant, or the period you choose, whichever is latest. Upon the death of the first to die, payments reduce to one-half (1/2) of the monthly payment and are payable to the survivor. No withdrawals or income plan transfers are permitted. Time period is 0 to 20 years.
- Joint Life with Two-Thirds to Joint AnnuitantReceive monthly payments in amounts that vary due to market fluctuations for the annuitant’s lifetime, the lifetime of the joint annuitant, or the period you choose, whichever is latest. Upon the death of the annuitant, payments reduce to two-thirds (2/3) of the monthly payment and are payable to the joint annuitant, if living, otherwise to the contingent beneficiary. No withdrawals or income plan transfers are permitted. Time period is 0 to 20 years.
- Joint Life with One-Half to Joint SurvivorReceive monthly payments in amounts that vary due to market fluctuations for the annuitant’s lifetime, the lifetime of the joint annuitant, or the period you choose, whichever is latest. Upon the death of the first to die, payments reduce to one-half (1/2) of the monthly payment and are payable to the joint annuitant, if living, otherwise to the contingent beneficiary. No withdrawals or income plan transfers are permitted. Time period is 0 to 20 years.
To pay by automatic withdrawal, log on to Access Your Accounts,’ select вЂBilling Account,’ and complete the Automatic EFT Payments Form
For Variable Payment Plans: This description contains a partial summary of contract provisions which are explained more completely in the prospectus.
Paying premiums keeps your insurance policies in force and ensures your beneficiaries will receive the level of protection you planned for them.
Who to Consult: Decisions concerning a variable income plan should be made within the scope of your total financial situation, your tolerance of investment risk and return potential, and with the guidance of your representative or tax advisor
Automatic withdrawal Automatic withdrawal, often called Electronic Funds Transfer (EFT), is the quickest, most convenient way to pay your premiums. Just tell us what checking or savings account you want the money to come from, and how often you want to pay. You can pay your premiums monthly, quarterly, every six months or once a year. You must have a Billing Account in order to make payments via Automatic withdrawal.