What is the definition of Annuity Death Benefits?

The Annuity Death Benefits provides the beneficiaries with a guarantee that they will receive the value of annuity that the insurance company still owes to the annuitant.

The requirement for these annuity death benefits to be paid to the spouse (if the spouse is the beneficiary) is that the beneficiary spouse should be living with the deceased annuitant at the time of his/her death. Now, if there is no spouse who will receive the annuities, the children can be made eligible. They stand to receive a regular social security stipend. This is usually a percentage of the "pension" the annuitant should have been receiving had he been alive.

Annuity Death Benefits are subject to taxes on the interest accrued.

• Businessowners Policy / BOP
• Competitive State Fund
• Excess and Surplus Lines
• Employer’s Liability
• Blanket Insurance