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In Reply to: Single Premium Annuities posted by Sam on July 25, 2001 at 04:32:29:
: What happens if the annuitant dies after paying the single premium, but before benefits start?
Assuming that this was a single-premium immediate annuity (SPIA), and assuming you mean that the deposit was made and immediately thereafter the person to whom the payouts were to be made dies, the beneficiary would receive the payouts according to the terms of the contract when it was purchased. If this was a "life-only" payout, that is, payments were to be made during the life of the annuitant only (no beneficiary named), then no one would get the payments. Note: many companies have stipulations in their SPIA that would provide for a refund to the estate of the annuitant of the entire deposit amount if the annuitant dies before so many payments are made.
Paul