Juliette Fairley - What happens to my annuity after I die
In this video, Juliette Fairley explains that what happens to an annuity after the owner’s death depends on the contract terms—beneficiaries may continue receiving payments or they may stop—and that choosing continued payouts typically results in smaller payments during the owner’s lifetime.
Video Transcript
Once a person who owns an annuity passes away, there can be several options depending on what the person negotiated at the start of the annuity. It can play out where the beneficiaries receive, continue to receive the payouts or that the payouts end upon death.
So if payments are going to continue beyond death, then the payments while the person is alive will be smaller.
