Annuity service providers offer a variety of generic annuities and their variants of combinations thereof. The annuity options for monthly pension are:
1. Pension for life at a uniform rate solely to you
2. Pension for 5, 10, 15 or 20 years and subsequently for as long as you are alive.
3. Pension for life with return of purchase price on death of the policyholder
4. Pension for life increasing at a simple rate of 3% p.a.
5. Pension for life with the option of 50% of the annuity payable to spouseon death of policyholder.
6. Pension for life with option of 100% of the annuity payable to spouse on death of policyholder.
7. Pension for life with option of 100% of the annuity payable to spouse on death of the annuitant, plus return of purchase price on death of the spouse. If the spouse dies before the policyholder, annuity payment will stop on death of policyholder, with purchase price being paid to nominee.