Benefit Options

Selecting the right benefit payment option is important.

Most group annuity contracts provide multiple benefit options and you must determine which option is right for you. While the options are intended to be relatively equivalent to one another, there may be circumstances specific to you that make certain options preferable.

Benefit options commonly include a single life annuity that provides a fixed periodic benefit for your lifetime and a joint and survivor annuity, which offers a benefit until the death of the participant and
then allows a surviving spouse or named contingent annuitant to continue to receive benefits for his
or her lifetime. Some contracts may allow the full value of the benefit to be taken as a single lump
sum payment.

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