Confidence Income® Annuity@headingTag>
A single premium immediate annuity featuring fixed-period, single-life and joint-life payment options.
Fixed Period: 0-90 (all Owners/Annuitants).
Single Life/Joint Life: 0-85 (all Owners/Annuitants).
- Fixed period; any period from 5 years to 20 years, in whole years.
Single Life/Joint Life
- Payments based on the life of a single annuitant or joint annuitants. Payment can be with or without a fixed period. If fixed period is elected, must be for a period of 5 to 20 years, in whole years. Payments will be made for the longer of the fixed period (if any) or the life of the annuitant(s).
- Annually, semiannually, quarterly or monthly.
Payment Start Date
- Any date from 30 days after contract effective date up to one year after contract effective date. Payments continue modally thereafter, based on the payment start date.
- The owner is the payee. Joint owners are allowed.
No annuitant, unless Owner is not a natural person, in which case the death benefit is based on annuitant’s life.
Single annuitant, on whose life the payment is based.
Two annuitants, on whose lives the payment is based.
- Upon death of both annuitants before the end of the fixed period, remaining payments in the fixed period are paid to the owner. If no living owner(s), the remaining payments are made to the owner’s estate or beneficiaries.
- None available.
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Electing payments from a qualified plan for a fixed number of years that exceeds your life expectancy may result in adverse tax consequences. Consult your tax professional. EquiTrust cannot give legal, tax or accounting advice. Your personal tax advisor can provide important information with respect to the purchase of this annuity contract and its taxation.
This information briefly highlights EquiTrust’s Confidence Income single premium immediate annuity and its benefits. Contract issued on Contract Form Series ET-SPIA(08-06). Product features, issue ages, riders and availability may vary by state. For costs and complete details of coverage, including any exclusions, reductions or limitations, and the terms under which the contract may be continued in force, contact your EquiTrust agent.