Temporary Life Annuity
A temporary life annuity is a short-term, usually from 5 - 20 years, contract that pays benefits while the Annuitant is alive during a specific time. The contract terminates at the conclusion of this time or upon the Annuitant’s death which ever occurs first. Presidential believes Annuitants should be able to have access to better life contingent pricing vs. period certain pricing without being compelled to purchase a whole life, open-ended, “straight life” contract that most other carriers compel Annuitant’s to purchase. Temporary life contracts can be used in conjunction with other annuity contracts (see split-annuity concepts) or used alone to boost income for seniors, usually age 75 or higher or for individuals with impaired health circumstances.