Death Benefits: In addition to a regular income, you can choose an annuity that will pay out a benefit on your death or, if you have chosen to provide an annuity for a named individual, on the later of your and the named individual's death. You can choose the level of death benefit: Full purchase price, or a proportion of the purchase price. Capital protection option- the amount paid on death is equal to the purchase price less the gross annuity installments already paid under the annuity. No death benefit is allowable where a guarantee period has been selected. No death benefit is allowable where a Joint Life annuity reducing on death of the first life has been selected.. Posted id-bs515