Do Fixed Annuities Have A Death Benefit?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   All annuities can designate a beneficiary. Once an annuity starts paying a lifetime income, the option selected will determine if there is any death benefit payable. The basic option is a lifetime income and while this benefit will pay until the annuitant dies, there isn’t any benefit for a beneficiary. However, there are options for having the benefit cover the lives of two individuals, or last a specific period of time. These would result in either a continuation of benefits for the beneficiary.

   Answered on September 24, 2014

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