The guaranteed income you receive will depend on:
If you die during the chosen term, your plan will end and no further income or lump sum will be paid unless you add death benefits for income and guaranteed maturity value protection when buying our fixed term annuity. You can combine a guaranteed income with a guaranteed lump sum to give you more security.
We guarantee the amount we’ll pay at the end of the term, so you'll know exactly what you’ll get back regardless of market conditions. The guaranteed lump sum value offered will depend on:
At the end of your plan term, we'll pay the guaranteed maturity value and you can use this to buy another fixed term annuity, or explore your other retirement options like a lifetime annuity, transferring your pension to a drawdown or taking some or all of the value as a taxable lump sum.
You can combine a guaranteed lump sum with a guaranteed income to give you more security.