1. 61667 POINTS
    Steve SavantPRO
    Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
    Generally an annuity that generates fixed monthly payments while the policy annuitant is living with guarantees of the repayment of the amount deposited. If the policy annuitant dies before receiving the amount deposited, the unpaid difference is paid to the policy beneficiary. This is an attractive provision for an annuity holder during distributions. Two options for beneficiaries to consider is installment or cash refund.
    Answered on September 14, 2013
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