What are Guaranteed Death Benefits?
Posted: 10/24/2009
Guaranteed death benefits is a term used in the insurance industry that states that the beneficiary, whose name is included on the original contract, can receive a guaranteed death benefit in the case that the annuitant passes away before the annuity actually starts to pay benefits. The beneficiary will be guaranteed an amount that is equal to the current invested amount, or they can weigh the contract value on the most current anniversary statement, then they can determine which is higher. A guaranteed death benefit policy can be very different within certain companies and the contracts they offer, so we encourage you to ask questions when you sign a contact with a new insurance provider.
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