What Is Overlap On Annuities?

  1. 63333 POINTS
    Peggy Mace
    Most of the U.S.
    Overlap on annuities is when an annuity pays two incomes to a surviving dependent for a period of time. It happens when someone purchases a Joint Annuity that is also a Guaranteed Annuity and dies before the guaranteed period is ended. If they have chosen to have the annuity payments start upon their death, and have set up the annuity on an overlap basis, the policy will pay the dependent two incomes until the guaranteed period is ended.
    Answered on September 14, 2013
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