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What is a Death Benefit?

Another important feature of some annuities is the death benefit provision◊. The annuity issuer guarantees,* at a minimum, that upon your death the total amount of your premiums are paid to your beneficiaries.The annuity may also offer an increased payment that includes interest earned as part of the death benefit. However, if the annuity-owner has taken excess withdrawals or had payouts that equal or exceed the initial premium payment, the death benefit will be reduced or depleted.

 

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ANNUITY FYI’S TOP DEATH BENEFIT ANNUITIES PICKS

Company Product Name
metLife_logo Enhanced Death Benefit Max V
axa-life-insurance HAV Death Benefit (Accumulator Series)
axa-life-insurance “Greater of” Death Benefit (Accumulator Series)
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ADVISOR INSIGHT

“Death benefit provisions are a great way to protect your funds for your beneficiaries in the event of your passing. They come standard on most annuities but you can also buy enhanced benefits as well to secure greater protection. These riders are often used when the health of the owner is unsure or to grow the assets for their heirs. These work as a nice alternative for someone that is uninsurable and wants to maximize protected growth for their beneficiaries.”

Andrew Murdoch

Andrew Murdoch, Certified Financial Planner™

Annuity FYI Expert

ARTICLES & GUIDES

Criteria for Evaluating Death Benefit Annuities

Criteria for Evaluating Death Benefit Annuities

When evaluating the numerous death benefit annuity riders on the market, Annuity FYI looks for…

*Annuity guarantees rely on the financial strength and claims-paying interest of the issuing insurance company.

◊ Some annuities offer a death benefit as part of the base contract and others may offer this benefit as a rider, purchased with additional premium.

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