With annuity benefit, you have an opportunity to secure your life financially after retirement. (life.indiainsured.com)
Another tax penalty comes if you pass along annuity benefits to your survivors after your death. (debt.org)
In another example, if there are multiple beneficiaries, they could choose a «last survivor income» annuity benefit which would pay life payments until the last beneficiary dies. (trustedchoice.com)