What Is Annuity Overlap?

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    Peggy Mace
    Most of the U.S.
    Annuity overlap can occur in some annuities sold in the UK, if the annuity holder has chosen both a Joint Annuity and Guarantee period. An annuitant may opt whether to set up the annuity on overlap basis, and they opt when they want their dependant's annuity to start. If they choose the day of their death as the date that the annuity's payment is to start, and then die during the guaranteed period, the surviving dependent will receive two incomes for the remainder of the guarantee period.
    Answered on September 14, 2013
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