What is a guaranteed annuity?  
A guaranteed annuity is one in which the annuity payments are payable for a guaranteed number of years and thereafter, continue until the annuitant is dead. This fixed number of years is called the guarantee period. If the annuitant dies during this period, the annuity payments (or one discounted lump sum) will continue to be paid (to the beneficiaries) until the end of the guarantee period.

<< Back