What Is an Inherited Annuity?
An annuity is a financial investment designed to protect financial assets and ensure stability over a set period of time. Due to the many benefits of this financial tool, individuals with personal injury lawsuit structured settlements, lottery recipients, and retirees looking to further invest in their nest egg frequently use annuities as a way to secure their futures. Some annuities also feature a death benefit that allows for a beneficiary to receive an annuitant’s payments following their death. If the annuitant happens to die before the term of their annuity contract ends, the designated beneficiary will inherit the annuity investment in the form of consistent monthly, quarterly or yearly payments.