1)15000, monthly in advance is guaranteed for 1st 5 years and thereafter for lifetime if life aged 60 survives after 5 years. Spouse aged 55 receives annuity as.. 2) if life age 60 dies within 1st 5 years ( guaranteed period ) then annuity starts immediately after end of guaranteed period. ( since payments in guaranteed period are independent of survival/death of life) 3) if life 60 dies after 5 years at any time then life 55 gets payment immediately after death of annuitant Survivors annuity is half of the annuitant
