cf567e9b_ion_Annuities___Key_Retirement__Meaning
[Description] Value protection [Meaning] 
Some providers offer the option to allow you to protect a percentage of your purchase price if you die. You can choose to protect up to 100%. On death the provider will make a payment equal to your chosen percentage of purchase price less any annuity payments already made to you. The payment on death is age dependent. If death occurs before age 75 then the lump sum paid is completely free of tax. After age 75 the exact treatment is at the highest marginal rate of 45% on any withdrawals.
Pension Annuities | Key Retirement
Meaning