What Really Happens to Your Annuity When You Die?

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If you're considering an annuity, one of the first questions that comes up is simple…

“What happens to my money when I die?”

Many retirees worry that the insurance company keeps the remaining balance. Others aren’t sure what their spouse or kids will actually receive.

And with so many contract options—SPIAs, DIAs, MYGAs, income riders—it can feel overwhelming.

This video breaks everything down clearly, so you know exactly how your money passes on… and how to avoid the contracts that don’t return anything to your heirs.

The Big Question: Does the Insurance Company Keep Your Money?

Most people fear the worst:

“If I pass away early, does the insurance company keep everything?”
The answer is no—as long as you choose the right contract.

There are some annuities (like basic SPIAs or DIAs with no cash refund) where the insurance company keeps the entire balance if you die early. These offer slightly higher payouts, but the trade-off is big.

💡 Pro Tip: Avoid SPIAs/DIAs with “no refund” options unless you specifically want the highest payout and don’t care about leaving money behind.