5 Year Certain And Life Annuity

Shawn Plummer

CEO, The Annuity Expert

What Is a 5 Year Certain And Life Annuity?

A 5 Year Certain And Life Annuity is a type of annuity that will provide payments to you for 5 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 5 years of guaranteed payments, then they would continue to receive income payments for life; however, no payments would be available for the beneficiary.

5 Year Certain and Life Annuities

Compare 5 Year Certain and Life Annuity products then request a quote.

Understanding a 5-Year Certain And Life Annuity

  • In a 5 Year Certain And Life Annuity, the annuity issuer must make payments for 5 years even if the annuitant dies.
  • If the annuitant dies during the guaranteed 5-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 guaranteed period is over, the monthly payments stop when the annuitant dies.
  • Annuity payments are distributed via annuitization.

What Do My Beneficiaries Receive When I Die?

If the owner of a 5 Year Certain And Life Annuity dies before the fifth year, the beneficiaries will receive a series of payments until the five years have gone past. If the owner dies after the first five years, the beneficiaries will not receive a death benefit.

Helpful tip: If you want to leave money to your beneficiaries, life insurance might be a better option for you. In some cases, you don’t need to take a medical exam. Use our free quoting tool and buy life insurance online. Coverage starts at $9.37 per month.

5-Year Certain And Life Annuity Quotes

Contact Us

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

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

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