Death Benefit Options
In some cases, you can attach an option to your annuity that allows it to increase and compound annually by a set amount. This rider can credit an annual 8-10% interest, and that accumulated amount can go directly to your heirs.
5 benefits to having a death benefit:
- Contractually guaranteed annual growth
- Can be left as a lump sum or distributed over a 5-year period, depending on your policy
- No fees deducted from legacy benefit
- Flexibility, you can change the beneficiaries or change your mind and use the money yourself.
- All death benefits bypass probate and go directly to your heirs