A Guide to Understanding Annuity Settlement Options at Claim Time

When the owner of a tax-deferred annuity passes away, there are several settlement options available to a beneficiary. In this short blog, we’ll go over the basics and explore the most common annuity settlement options.

What is an Annuity?
Interestingly, the concept of annuities goes back in time between AD211 and AD222.  European monasteries raised funds by selling life annuity products and used acclaimed mathematicians from their scientific communities to support the refinements of pricing models.  

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