Some of the options available to a client can be selected at the same time. For example, a dependant's pension and a guarantee period. In this example, the client can specify when they would like each option to start.
This means that if the individual dies during the guarantee period, the dependants' annuity payments can start either at the end of the guarantee period or from the date of the annuitant's death.
If the client chooses from their date of death, it will mean that if they die during the guarantee period, their surviving dependant would receive two incomes for the remainder of the guarantee period. This is called 'with overlap', as the payments would 'overlap'.
An important point to consider is whether or not the surviving dependant will need two incomes if the policyholder dies soon after the policy has started.
See the diagram below for an illustration of how this works: