Can Annuities Have Beneficiaries?
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63333 POINTSview profilePeggy MaceMost of the U.S.Yes, annuities can have beneficiaries, and most do. They are similar to the beneficiaries on a life insurance policy in that the value of the annuity goes to the beneficiary without passing through probate. If the annuity has already been annuitized, the remaining annuity payments will be made to the beneficiary. Life income annuities payments do end with the death of the annuitant, unless they are life income with term certain, or provide a cash refund if the amount put in to the annuity has not yet been paid out.Answered on June 20, 2013flag this answer
0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaThe annuity application has three possible persons involved: The policy owner, annuitant and beneficiary. The beneficiary can be more than one and can also select a contingent beneficiary if the primary beneficiary is no longer alive. The policy owner can also change the primary and/or the contingent policy beneficiary.Answered on June 23, 2013+01+1 this answer
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