1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Annuities are contracts.  They identify a beneficiary to receive proceeds in the case of a premature death.  The company is required to honor the beneficiary.  If the beneficiary is the estate, or there is no surviving beneficiary, then the will can direct the disposition of the proceeds.  Most of the time people who purchase annuities name living persons who survive them.
    Answered on July 31, 2014
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