A brief summary of the other options are as follows;
- Payment frequency: Annuities can be set up to be paid on a monthly, quarterly, half-yearly or annual basis. You can elect to have the payments at the beginning of the period (in advance) or at the end of the period (in arrears).
- With or without proportion: If you choose to receive payments in arrears, you can set up the annuity so that in the event of your death mid-way through the payment period a proportionate payment to the date of death is made, i.e. with proportion. Without proportion would mean no payment is made for the period in which you die.