At this time, this contract is unique to Presidential Life. It provides a great balance between your income and legacy desires, when one is not necessarily favored more than the other. The First Annuitant (could be a parent or spouse) always receives a lifetime income no matter what. Upon the First Annuitant death, the Second Annuitant (could be an adult child or spouse) begins to receive the payments but for only a limited time from 5 – 20 years. Because the payments are limited to the Second Annuitant there is more money to finance the initial payments to the First Annuitant.

Unlike other SPIA contract options, the Second Annuitant payments don’t start until the First Annuitant dies, whenever that may be. This creates a better inheritance expectation then SPIA contracts that only offer traditional “period certain” and life payments particularly when you have parent/adult child Annuitant arrangements. Because the payment time is set (5 – 20 years), the total expected payments may be expressed as a percentage of the premium cost, say 50%, 75% or even 100% for example.

• Joint & Survivor 100% Limited Payment consumer brochure

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