What does it mean to have a beneficiary for my annuity payments?

First, the most simplistic answer to this question is, if you die and there is a beneficiary listed on the release and settlement agreement and annuity contract then your payments would be transferred to them. A release and settlement agreement will state: Beneficiary: Any payments to be made after the death of the Payee pursuant […]

Being the beneficiary: How are you notified of payments?

If you are the beneficiary of someone’s structured settlement payments or annuity you will more than likely know of the person’s passing. A question will probably arise of when do the payments begin and how will you be notified. The insurance company will more than likely send out a document to you stating what you […]