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V.C.F - Types of Annuities Period Certain - Guaranteed periodic payments for one person for a specified number of years. If the person dies before the end of the specified period, payments continue to the beneficiary. Life with Period Certain - Monthly payments for one person guaranteed for a specified period of years, continuing for the lifetime of the person. If the person does not survive to the end of the specified period, the beneficiary receives any guaranteed payments remaining in that period. Lump Sum - A lump sum payment to one person guaranteed on a certain future date. If the person does not survive to that date, the beneficiary receives the payment. << return to V.C.F. Information |
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