2007-07-03 08:06:49 · 5 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It depends on the payment option selected. If there was no beneficiary provision for the payments, such as a certain period of time of payments guaranteed, or a guarantee that the principal would be returned, the rest of the money goes to the insurance company that manages the annuity.
2007-07-03 08:12:11 · answer #1 · answered by another.amanda 2 · 2⤊ 0⤋
That depends on how the annuity is set up. Usually there is a beneficiary named, and the balance will go to that person.
An annuity can be set up with or without rights of a beneficiary. If it's set up without, then the payments will be higher but if you die soon, you lose - it's a gamble.
2007-07-03 08:28:20 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
is it an annuity or a 401k or was it a rollover from a 401k to an annuity? Will most likely go to the beneficiary.
2007-07-03 08:15:29 · answer #3 · answered by clemenza222 3 · 0⤊ 0⤋
interior the annuity there would desire to be a guy or woman who's specific eire to the money interior the account in case of death. some businesses require that guy or woman pay a compensational value to get carry of the money.
2016-12-08 23:39:29 · answer #4 · answered by calderon 4 · 0⤊ 0⤋
Depending on hows its written up: It goes to the beneficiaries or how ever its worded in the contract.
There are several different factors in this.
P.s.: Amanda hit it pretty much on the head.
2007-07-03 08:11:07 · answer #5 · answered by RJ 2 · 0⤊ 1⤋