The Challenger CarePlus annuity provides guaranteed regular payments in exchange for an initial capital investment. The annuity creates a regular cash flow for life, regardless of how long the annuitant lives or how investment markets perform. It is treated beneficially for Social Security purposes through favourable income and assets test treatment. The CarePlus Insurance will pay the estate or the nominated beneficiaries a lump sum (called the sum insured) when you die. You pay a single premium for lifetime insurance cover. The Insurance can only be purchased if you are also purchasing a CarePlus Annuity.