
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 … <a href="https://www.blueprintincome.com/resources/retirement-income/what-happens-to-the-money-in-an-annuity-when-you-die/">Continued</a>