Guaranteed Annuity – Pensionfinder
With a guaranteed annuity, pension income is paid for the life of the policyholder, but it includes an option for guaranteed payments for a fix period of time (usually 5 or 10 years). This are paid even if the policyholder dies. A guaranteed annuity allows the annuitant to pass on the benefits of their policy to their loved ones, even if they have an early death. The income will continue to be paid to the beneficiaries for the remainder of the guaranteed period.