Can Annuity Income Cover Final Expenses?
Retire For Less With The Annuity Expert por Shawn Plummer
Notas del episodio
Are you worried about leaving your family with the massive financial burden of your funeral and end-of-life medical bills? Can you use your annuity to cover those final expenses after you are gone? 🛑💸
In this video, Shawn Plummer from The Annuity Expert gives a candid breakdown of exactly how final expenses interact with your annuity contract. Shawn explains the "Sandwich Analogy" of annuity structure (Owner, Annuitant, and Beneficiary) and reveals the brutal truth: standard annuity income usually stops the moment you die!
However, Shawn explains three brilliant workarounds to protect your heirs. You can use your active annuity income to prepay your final expenses while you are still alive, you can structure a Joint Life payout so your surviving spouse keeps receiving the checks, or you can rely on the contract's lump-sum Death Bene ...