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Author: Nimish Shukla
Nimish Shukla

Nimish Shukla

Financial Planning Professional

Nimish has spoken with thousands of customers about retirement spending. As a CFA Charterholder and licensed fixed annuity producer he values the importance of building an income stream for retirement. In addition to his work at Blueprint Income he is also a regular contributor to Nerdwallet.

Retirement Income

Do Immediate Annuities Have Beneficiaries?

An immediate annuity can have beneficiaries as long as you elect to include a refund at death (a.k.a. a cash refund or death benefit) or a certain period (number of years where payments are guaranteed even if the annuitant has passed away). For immediate annuities purchased with a refund at death, the beneficiary will receive &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Annuity Basics

At What Point Does the Beneficiary to an Annuity Acquire Rights?

The beneficiary to an annuity acquires rights upon the death of the owner. In most cases, the beneficiary will receive a lump sum cash refund of the contract, although, with certain annuity contracts, the beneficiary can take over the policy as the owner for the remainder of the term. Annuities typically avoid the probate process &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Insurance Companies

What Is the Best Company for Annuities?

Deciding what the best company for annuities is depends on what you’re looking for in an annuity. Some companies offer better rates for one type of annuity than another. And, some companies that offer annuities have higher financial ratings than others, but they might offer lower rates. Blueprint Income is a marketplace that distributes simple &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Retirement Income

What Happens to the Money in an Annuity When You Die?

What happens to the money in an annuity when you die depends on the type of annuity and the options chosen. If you have an immediate or longevity annuity and pass away, the contract will terminate unless you include a refund at death (a.k.a. cash refund or death benefit). Including the refund at death ensures &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Annuity Basics

What Is the Best Annuity?

The best annuity depends on your goals. If you’re looking for a pension-like monthly income stream for life, an income annuity is likely the best fit. If you’re looking for a CD-like guaranteed return for a set number of years, a fixed annuity is likely the best fit. If you’re looking for something that changes &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Annuity Basics

Who Should Not Buy an Annuity?

You should not buy an annuity if Social Security or pension benefits cover all of your regular expenses, you’re in below average health, or you are seeking high risk in your investments. Take our quiz here to decide if an annuity makes sense for you. If you’re interested in reading more, here are several articles &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Retirement Income

Should I Put My 401(k) into an Annuity?

Putting a portion of your 401(k) savings into an annuity makes sense if you’re looking to diversify your retirement savings and add a guaranteed piece to your portfolio. Your 401(k) is a basket of savings tied to market performance that does not protect you from the risk of living longer than expected (and needing an &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Annuity Basics

Should I Invest in an Annuity?

You should consider investing in an annuity if you’re saving for retirement, consider yourself to be a moderate to conservative risk investor, and are interested in guaranteed income or growth.  If, on the other hand, you’re looking to access funds for a near-term purchase, only want to invest in higher risk/higher return potential assets, an &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Annuity Basics

Are Fixed Income Annuities a Good Investment?

Fixed income annuities are a good investment for those looking for guaranteed lifetime income in retirement. An income annuity is a lifetime income guarantee (typically paid monthly for the rest of your life) that you purchase from an insurance company as a way to reduce the risk that you run out of money in retirement. &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>

Retirement Income

What Happens to an Immediate Annuity When You Die?

If you have an immediate annuity and pass away, the contract will terminate unless you include a death benefit (a.k.a. a cash refund or death benefit) or a period certain. Including the death benefit ensures that a beneficiary receives the premium paid less any income payments the owner had received prior to death. Even if &hellip; <a href="https://www.blueprintincome.com/resources/retirement-income/do-immediate-annuities-have-beneficiaries/">Continued</a>