| You may choose to receive an income for life which ensures that
you will always receive payments even if your annuity's value is exhausted. In case of
death, the cash value of your annuity is paid to your beneficiaries. Although
your annuity payments are denominated in Swiss francs, you may receive them in any
currency you wish. You may have the payments converted at your bank in Switzerland or you
may instruct the insurance company to make the conversion for you.
| Payments can be made to you anywhere in the
world, or at any bank of your choice. All transactions are kept strictly confidential. |
The main purpose of an annuity is to provide you with a constant
income for as long as you live. But people's needs and circumstances differ, and to
accommodate them, a variety of beneficiary options is available for both single and joint
annuities. In weighing the merits of the different annuity plans, several factors have to
be considered.
Whether you are male or female, how old you and your spouse will be when your
life income begins, and the size of your investment. All these have to be considered as
well as the beneficiary option you select.
You age is important in these considerations. The older you are, the more
income difference there will be between an annuity without refund and one with any of the
beneficiary options. At age 55, the difference in life income created under each option
does not vary that much because at 55 the life expectancy for both male and female exceeds
25 years.
Therefore, according to statistics, the insurance company will probably have to
pay out the entire amount regardless of what option you select.
However, the older you are, the more relevant the option becomes. The life
income will vary accordingly when the contract expires at death with no further payments
(without refund) or when some or all of the unused portion is refunded to a beneficiary
(10 years certain, with refund). Choosing among the various beneficiary options requires
you to ask a few questions. For example, is there anyone whose well-being depends on your
financial support? If there is someone such as your spouse or children, then consider a
plan that provides for that person or persons after your death. For options consider 10
years certain with refund, a joint annuity, or a single annuity for your spouse and
children and yourself. If you have no immediate dependents and you are over 65, consider a
single annuity paying the highest income for as long as you live with no refund to
beneficiaries.
With Refund means that at death, the unused portion of the premium paid is
refunded to the beneficiary in a lump sum. The payment is determined by subtracting from
the original premium, the amount of guaranteed income paid out. 10 years certain means the
income is paid for a minimum of 10 years to you or your beneficiaries if you die before 10
years.
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