There are two additional annuity features available: the cash refund feature and the 10-year certain feature. Under certain circumstances, these features will provide payments to your named beneficiary. When you choose one of these features, your monthly payments will be less than they would have been if you had chosen an annuity without either of these features.
Cash refund. If you (and your joint annuitant, if applicable) die before the amount used to purchase your annuity has been paid out, the remaining amount will be paid to your beneficiary in a lump sum. This feature can be combined with either a single life or a joint life annuity, and with level or increasing payments.
Ten-year certain. If you die before receiving annuity payments for the initial 10-year period, payments will continue to your beneficiary for the rest of the10-year period. If you live beyond the 10-year period, you will continue to receive payments, but no payments will be made to a beneficiary when you die. This feature can be combined with a single life annuity with either level or increasing payments. It cannot be combined with a joint life annuity.