Insurance Company:

This is the company that issues the annuity. The insurance company is responsible for backing the annuity’s guarantees.

Contract Owner/Annuitant:



The beneficiary is the person who receives the annuity’s death benefit. Naming one or more beneficiaries is important, because without a beneficiary, the money in your annuity could be subject to probate.

A death benefit can be paid to your beneficiary without probate.