It’s wise to make sure your spouse, as well as other loved ones, will be financially provided for after your death. You can set up a Joint Life Income Annuity and name your spouse as a Joint Life Applicant, which allows him or her to receive income (option of 50%–100%) after your death.
By setting up a Specified Period option, you can ensure other loved ones will receive proceeds should you and your spouse (if a Joint Life Applicant) die before a specified time period.
You can also name children, grandchildren or other relatives as beneficiaries under certain plans.
You can also request a Cash Refund option on your annuity, so your beneficiaries may receive any principal not paid out during your lifetime and/or Joint Life Applicant’s lifetime.
There are more options than you may realize. You can learn more about your retirement income options with GuideStone by logging into your MyGuideStone® account under the "Retirement Income" section.