When Does A Fixed Period Annuity Terminate? 
When you select a period certain payout option for a fixed annuity , the monthly payments will cease when the selected term period expires . For example , if you selected a 20 year period certain fixed annuity , your monthly payment would stop after 20 years . You are given a number of options when you first create your annuity - one being how long you want the payments for -LRB- a specified period of time , or continue on for life -RRB- . The shorter the payout period , the higher the payment . If you want it to payout for the rest of your life , the monthly payment would be lower . It 's important to review your options with an experienced insurance broker -LRB- I would recommend one with a background in estate planning to be most beneficial -RRB- when purchasing an annuity as each company may offer a different rate so some companies may offer you a higher monthly payment than others for the same purchasing price . I hope the information is helpful - please feel free to contact me for assistance with your annuity program and if you have any other questions . Thanks very much . 