Course Outline
Policy Maturity
Finally, let’s talk about policy maturity for the Plus One and Encore annuities. Both annuity policies mature on the policy anniversary date after age 90.
Prior to the maturity date, the policyowner may request a specific payment option. Options payable at maturity include lump sum or annuity benefits of life income, fixed period, life income with guaranteed period, and other options available upon request.
If no payment option is selected at maturity, the automatic option will be life income with a 10-year guaranteed period.
Maturity Date
- The policy anniversary after age 90
Payment Options at Maturity
- Lump sum; or
- Available as annuity benefit – life income, fixed period, life income with guaranteed period and other options available upon request
- NOTE: If no payment option is selected, automatic option will be life income with a 10-year guaranteed period
