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Harry, the annuitant of a non-qualified tax deferred annuity with $40,000 cash value chooses the Life Income with Refund Payment Option when he annuitizes the policy. After receiving $1,000 each month for 80 months, Harry suddenly dies. How much will his beneficiary, his wife Lucille, receive?

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jepessoa

Answer:

$0

Explanation:

Since Harry chose a non qualified tax deferred annuity, upon his death all annuity payments will stop and his beneficiaries wouldn't receive any money.

For Lucile to receive any money after Harry's death, he should have chosen another type of annuity, like an annuity with 10 or 20 years certain.

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