Death Benefits for Equity Indexed Annuities?

Q: I was reading one of your very informative articles about annuities. I have a question about the equity indexed annuities if you don't mind.

Do these indexed options come with a death benefit? If you are in the payout period and pass away, what do these insurance companies typically do? Do they pay the beneficiaries whatever balance is remaining or do they keep the balance?

A: Depends on the EIA. With some, the beneficiaries will lose the bonus and index gains unless they take it out over an extended period.

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