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If I die before the payback period of my annuity begins, will my beneficiaries receive anything?
Your beneficiaries will receive the guaranteed return of principal or the cash value of the annuity, whichever is greater. The types of benefits vary depending on whether the annuity is fixed or variable. If you own a fixed annuity when you die, your beneficiaries receive the accumulated value (principal and interest) of the annuity.If you own a variable annuity, the value of your annuity accounts varies based upon the value of the underlying securities. Most variable annuities include a provision for life insurance benefits, ensuring that your beneficiaries receive something.Return to Questions
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