What will the beneficiary receive If an annuitant dies before the - ProProfs Discuss
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What will the beneficiary receive If an annuitant dies before the annuitization occurs?



A. Cash value of the plan
B. Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount
C. Amount paid into the plan
D. Either the amount paid into the plan or the cash value of the plan, whichever is the lesser amount

This question is part of Life, Accident, and Health Combo Exam
Asked by Chad LaPorte, Last updated: Jan 15, 2020

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2 Answers

H. Jones

H. Jones, Web Content Writer, San Antonio,

Answered Aug 10, 2018

The answer to this is B. Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount. Take note that the amount that will be received by the beneficiaries can be in lump sums or they can also send the amount through streams of payments. It will depend on the insurance company.

There are also different annuity plans available. There are some who feel that a big amount of cash that will be given in one payment will be better for the beneficiary. At times, the stream of payments is better as it can help the beneficiaries manage their finances better.

 

John Smith

John Smith

Answered Jul 13, 2017

Either the amount paid into the plan or the cash value of the plan, whichever is the greater amount
 

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