Secure Income For A Retirement Lifetime — You can create an immediate income source that is unaffected by any market condition. Explore the features of Guardian Guaranteed Income Annuity III to see if it may be an appropriate addition to your retirement plan.
Select What You Want…
- Life Annuity without Guaranteed Period – will generally provide the highest payout to you in return for the annuity payments stopping at the death of the annuitant.
- Life Annuity with Guaranteed Period – offers guaranteed periods of 5 to 30 years.
- Life Annuity with Refund Certain – guarantees the repayment of the premium amount used to purchase the annuity minus any annuity payment that has already been paid.
- Period Certain – provides annuity payments for a specific period of time of 5 to 30 years. After this time period ends, the annuity payments will end.
Life Annuity options will provide income for the life of the annuitant. If the option provides a guaranteed period, if the annuitant were to die during the guaranteed period, the annuity payments continue until the period ends.
If the annuitant dies after the guaranteed period, the annuity payments will end.
Joint Life Annuity with Survivorship Benefit
The Life Annuity Options with and without Guaranteed Period as well as the Life Annuity with Refund Certain* may be issued as a joint-life option.
The annuity payments are based on and will last for the lives of two annuitants.
After the death of a specified annuitant or either one of the annuitants (if you choose), the annuity payments are continued based on a survivor percentage rate of 5% to 100% (selected at contract issue and cannot be changed thereafter).
This survivor rate is not applied until the end of a guaranteed period, if any.
Adjust the Annuity to Your Needs
There are features of the Guardian Guaranteed Income Annuity III that you may wish to select when first purchasing it.
There are also features of the annuity that you may choose to take advantage of during its life.
Annuity Payment Increase Benefit
Payments begin smaller than payments from an annuity without this benefit but then grow each and every year from 1% to 5%.
- You may wish to consider this benefit to combat inflation risk.
- This benefit must be elected at issue.
- It may take some time before payments will equal or exceed payments from an annuity without this benefit.
- The owner (s) must be age 59½ or older at issue.
Choose the Date of Your First Payment
You have the flexibility to choose a specific date the first annuity payment will be paid to you, provided it’s not more than 12 months after your annuity’s issue date.
Depending on your needs, this may be appealing to you because you’ll know the date (or date of the month) subsequent checks will be sent/deposited for you.
Direct Deposit
You don’t have to wait for your mail to come to get your annuity check.
You can choose to have your annuity payments deposited directly into your bank or financial institution account.
There is no charge for this service.
You can sign up for and/or change this service at any time.
Change the Payee
Any time during the life of the annuity, you may instruct us to have each payment (all or partial) paid to a maximum of ten individuals or institutions.
This way, you’ll know that certain people in your life are being taken care of or that certain bills will always be paid on time.
Payment Acceleration Rider
If you elect a monthly payment schedule for nonqualified and ROTH IRA’s, you can request a one-time full undiscounted regularly scheduled payment of the next five monthly annuity payments with your current annuity payment.
At the time of the request, the owner(s) must be age 59½ or older, and the annuity must have at least six monthly payments remaining in a guaranteed period.
Leaving Your Annuity as a Legacy
An immediate annuity is designed to provide you with guaranteed annuity payments during your lifetime and generally is not the most effective financial product to use as a means to provide a financial benefit upon your death.
However, in many situations, your annuity payments will pass to specific individuals named on your annuity after your death, creating a lasting inheritance.
If the owner dies and the annuitant is still living, annuity payments will continue, regardless of the annuity payment option, to the following individuals in this order:
- Any surviving joint owner; if none then.
- Any surviving primary beneficiary(ies); if none then.
- Any surviving contingent beneficiary(ies); if none then.
- The last surviving owner’s estate.
If the last surviving annuitant dies and the annuity has a guaranteed period, refund certain guaranteed period or period certain still in effect, annuity payments will continue until the end of any such applicable period to the following individuals in this order:
- The owner (if different than the last surviving annuitant);
- Any surviving joint owner; if none then.
- Any surviving primary beneficiary(ies); if none then.
- Any surviving contingent beneficiary(ies); if none then.
- The last surviving owner’s estate.
Lump-sum Distribution Option
In certain situations, the new payee may have the option to receive a lump-sum distribution of the remaining annuity payments at a present-day, discounted value.
The discounted value is not applied if the Life Annuity with Refund Certain option was elected.
The lump-sum distribution option is only available within a six-month time period after GIAC has been notified of the last surviving annuitant’s death. If elected, annuity payments will end.
Pension-Alternative
If you’re seeking a pension-like income in the future, but want more flexibility, check out an income rider. Annuities with an income rider provide guaranteed income for life with a death benefit for beneficiaries along with much more flexibility, access, growth potential, and control.
Compare SPIA quotes to find the best annuity payout for your retirement.
