This annuky usually requires a minimum investment ($2.500 to $10.000) and is often purchased just before retirement as a way of creating a tuture stream of income. This is the portion of poncipal and interest not returned before the ourchaser dies. When the purchyser dies, the contract terminates and the estate or beneficiaries do not receive a rolund This type of contract allows cash bennfits to be nfrofched for several yeart In this type of contract, the benefits arem limited to the purchaser only but may exteod to named beneficiaries