This document discusses immediate annuities, which provide a guaranteed monthly income for life in exchange for an initial deposit. It explains that the monthly payment amount is calculated based on the deposit amount and the purchaser's estimated life expectancy. While immediate annuities guarantee lifetime income, any remaining deposit is not returned upon death. The document also outlines some options for immediate annuity contracts, such as single life, joint life, period certain payouts, inflation adjustments, and remainder guarantees.