A guaranteed lifetime income stream that can even exceed the annuity account balance to protect those who outlive expectations.
2. Death benefit paid to your heirs which is calculated as the remaining balance in the account at your passing. The death benefit bypasses probate and is paid directly to heirs.
3. Long term care assistance — the annuity funds can be redirected to offset long term care costs and any surrender fees on the annuity are waived.
4. Exempt from Medicare means testing — your annuity cannot be used by Medicare for the calculation of assets to liquidate when Medicare is determining how much it will pay towards your long term care.
5. Earnings on annuities are tax-deferred.