People who own annuities have something that not only can take care of their financial needs, but also provide money even after their death. In addition to benefits for owners, an annuity can be a valuable inheritance for beneficiaries, like spouses, or other persons. Certain benefits can become available to beneficiaries when a contract owner passes away.
As the contract holder, you may setup your annuity in ways that will take care of your loved ones, even when you are not with them anymore. The amount of money available after your death will depend on the type of death benefit offered by the specific annuity you have. Let's get into more details of what happens to an annuity when someone passes away.
