Annuities can be used in estate planning to provide a guaranteed income stream for a surviving spouse, transfer wealth to heirs, or fund charitable giving. The death benefit from an annuity passes to beneficiaries. An independent agent can help you evaluate annuities for estate planning.
Key Points
- Annuities provide guaranteed income for surviving spouse
- Death benefit: passes to beneficiaries
- Enhanced death benefit riders: may provide more than the account value
- Annuities avoid probate: pass directly to beneficiaries
- An independent agent can help you evaluate annuities for estate planning