01.Core Concepts

The annuity owner has a choice of annuity payout offers Most annuities are not annuitized Under the cash option, the funds can be withdrawn in a lump sum or in installments A life annuity (no refund) option provides a life income to the annuitant only while the annuitant remains alive A life annuity with guaranteed payments pays a life income to the annuitant with a certain number of guaranteed payments ‹#›