Types of Annuity
There are a number of choices you need to make when purchasing an annuity: A Single Life Annuity
is payable for the rest of your life only. With a Joint Life Annuity,
a percentage of your pension is payable to your spouse after you die. If you choose to include a Guaranteed Period, your pension will be payable for a minimum of the guaranteed period, even if you die during that time. A Level Annuity
means payment of the Annuity remains the same throughout your life and an Escalating Annuity
means payment of the Annuity increases at a fixed rate each year.