Fixed Immediate Annuities

Minnesota Life's fixed immediate annuity allows you to earn a fixed income that does not vary. You can choose from a number of options that allow you to receive your income in the way that's best for you. Whichever option you choose, once you begin receiving income, your payments will not vary.

Options for receiving income include:

• Life annuity
  This option provides payments during your lifetime, which end when you die. A life annuity generally provides the largest monthly payment compared to other options.
• Life annuity with period certain
  This option provides monthly payments guaranteed for a certain number of years, which you select. If you live beyond that period, payments continue uninterrupted. If, however, you die before the end of that period, payments would be provided to your beneficiary for the remainder of the period certain.
• Joint and last survivor annuity
  This option provides a monthly income to you and your survivor (usually a spouse) while both are alive. When one dies, the income continues for the remainder of the surviving person's life. Options are available to allow the survivor to receive all, two-thirds or one-half of the monthly income amount.
• Life annuity with 50 percent to spouse
  This provides monthly income to you during your lifetime. Payments would continue at 50 percent of the original monthly income for the lifetime of a surviving spouse. If your spouse died before you, the monthly payment would not be reduced.
• Installment refund annuity
  This provides an income for life. If you die before receiving income payments equal to the amount paid to purchase the annuity, the payments will continue to your beneficiary until the payments equal the purchase amount. The cash refund annuity is similar, except the payment to the beneficiary would be made in a lump sum.
• Period certain annuity
  This option provides a monthly income for a period of your choosing from 5-20 years. At the end of the time period, payments cease. If you die before the end of that period, payments would continue to your beneficiary for the remaining time.

Contact a financial advisor or registered representative to find out more about fixed immediate annuities. Find Your State AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY