10-Year Certain And Life Annuities

Shawn Plummer

CEO, The Annuity Expert

What Is a 10-Year Certain And Life Annuity?

A 10-Year Certain And Life Annuity will pay you for the rest of an annuitant’s lifetime with a minimum of 10 years, even if you die. If you pass away during the guaranteed period, the rest of the payments will go to your beneficiary.

If the annuitant outlives the ten years of guaranteed payments, they will continue to receive income payments for life; however, no payments would be available for the beneficiary.

10 Year Certain And Life Annuity

Understanding a 10-Year Certain And Life Annuity

  • In a 10-year Certain And Life Annuity, the annuity issuer must make payments for ten years even if the annuitant dies.
  • If the annuitant dies during the guaranteed 10-year period, the designated beneficiary will receive the balance of the guaranteed payments.
  • If the annuitant lives beyond the guaranteed period, they will receive monthly payments for life.
  • After the annuity guarantee period, the monthly payments stop when the annuitant dies.
  • Annuity payments are distributed via annuitization, not a lifetime income rider.
10 Year Annuity

Annuitization At A Glance

Fixed Index
Principal ProtectionNoYesYesYesYes
Access To PrincipalYesYesYesNoNo
Tax-Deferred GrowthYesYesYesNoNo
Guaranteed GrowthNoYesYesNoNo
Guaranteed IncomeYesYesYesYesYes
Inflation ProtectionYesYesNoYesYes
Death BenefitYesYesYesYes/NoYes/No
Long-Term Care HelpYesYesYesNoNo

What Do My Beneficiaries Receive When I Die?

If a 10-Year Certain And Life Annuity owner dies before the tenth year, the beneficiaries will receive a series of payments until the ten years have passed. However, if the owner dies after the first ten years, the beneficiaries will not receive a death benefit.

Helpful tip: Life insurance might be a better option if you want to leave money to your beneficiaries. In some cases, you don’t need to take a medical examination. Instead, use our free tool to receive an instant quote for life insurance online. Coverage starts at $9.37 per month.

Certain And Life Annuity

Next Steps

A 10-year certain and life annuity can provide you with a steady income in retirement, regardless of what happens to you. Plus, the payments continue for as long as you live. If this sounds like something you may be interested in, contact us for a quote today. We would happily discuss your options and help you find the best retirement planning solution. Thank you for reading!

10 Year Period Certain Annuity

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Frequently Asked Questions

What is a 10-year annuity?

A 10-year annuity is a deferred annuity with a ten-year surrender charge period. After the ten-year period is complete, the funds are liquid. A 10-year certain and life annuity is not a 10-year annuity.

What does 10-year term life insurance mean?

A “10-year certain and life annuity” guarantees payments for life, with a minimum period of 10 years. If the annuitant dies before ten years, the payments continue to the beneficiary until the end of the 10-year period.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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