What Happens to Your Annuity When You Die?
Chris Magnussen explains that what happens to an annuity after death depends on the type chosen—some provide death benefits to beneficiaries, while others focus on maximizing lifetime income without leaving funds behind.
Video Transcript
I'm often asked, you know, what happens to the value of an annuity once I pass? And there are different types of solutions available and it's ultimately knowing your situation, whether you have beneficiaries you wanna leave money to, and that's definitely gonna consider it in the payout factor. Or if you're looking for maximum income, right? If you're looking for maximum income, that type of annuity would not offer a death benefit.
