Income Payment Options

Today’s retirement can last about 30 years. Many people buy a SPIA to help cover their fixed expenses while in retirement.

With the WNL Secure Income Annuity, in exchange for your single lump-sum annuity payment, Western National will ensure you receive a predictable stream of income payments for as long as you live.¹

You can choose from multiple income payment options. And, you can even tailor your annuity to match your needs.

Life Contingency Options.² You can either choose to receive income for as long as you live or payments for life with a certain number of years guaranteed (5 to 20 years).

Lifetime Income with Cash Refund.² Provides payments for the life of the annuitant. If the annuitant dies before an amount equal to the premium paid is received, the balance of any remaining premium is paid in a lump sum to the beneficiary.

Lifetime Income with Installment Refund.² Provides payments for the life of the annuitant. If the annuitant dies before an amount equal to the premium paid is received, the designated beneficiary will receive periodic payments until the sum of total payments is equal to the premium.

Period Certain Option. You will receive income payments for a set number of years.³ Note that in times of low interest rates, some certain periods may not be available.

Automatic Increase Option. At the time of application, you can ask to increase your income payments automatically on an annual basis.⁴

¹ This and all guarantees mentioned are subject to the claims-paying ability of Western National Life Insurance Company.

² All life contingent options have a maximum rated age of 90. Maximum age rate-up is limited to 10 years and to age 90.

³ If the annuity is funded with after-tax dollars, the payment period can range from five to 50 years. However, if funded with pretax dollars, the payment period cannot be less than five years, nor more than the life expectancy, which is determined according to minimum distribution rules.

⁴ Normally, the increase is based on a set percentage from 1% to 5%, compounded annually. Other options include a simple annual increase based on a straight percentage of the original payment (1% to 5%), or by a set dollar amount.