Settlement Options
Gleaner offers several generous settlement options. Be choosing a settlement option on your Gleaner certificate, you elect to receive periodic payments. The options available are:
- Deposit at Interest - Interest payments are made to you periodically
- Fixed Period - Equal payments are made to you over a certain time period (e.g. ten years, twenty years, etc.)
- Fixed Amount - A requested payment amount is paid to you until your funds are depleted
- Life Only - Payments are made to you for as long as you live
- Life with Period Certain - Payments are made to you during your lifetime and will continue to your beneficiary until the end of the period certain
- Joint and Survivor - Payments are made to you or the survivor as long as either annuitant is living
While life insurance protects you in the event of premature death, a settlement option can protect you from outliving your resources. By choosing a lifetime settlement option, you are guaranteed to receive periodic payments for the rest of your life, no matter how long you live.
For more information, request an appointment with a Gleaner representative.