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If both parties to an annuity contract die, the benefits to heirs depend on the specific terms of the annuity. Many annuities have a death benefit provision that pays a specified amount to the beneficiaries upon the death of the annuitants. However, if the annuity was set up without a death benefit or if it has been fully paid out, heirs may not receive any benefits. It's essential to review the annuity contract for details on beneficiary provisions and death benefits.
What else can I help you with?
What is better a full survivor annuity or a single annuity?
It depends on what you are wanting to accomplish. If you want to make sure both parties receive an income even after the death of one of the parties then the survivor annuity is your option. If you are not worried about future payments after the death of the fist party then utilize the single annuity.
How is a defined benefit retirement plan different from an annuity plan?
A defined benefit plan is one that your employer pays for over the period of time you are employed with them. An annuity plan is a program that you invest in for your retirement. Both are payable at the time of your retirement. Defined plan is a fixed amount. Annuity depends on the terms of your contract.
Can two people be on an annuity?
Yes, two people can be on an annuity, typically in the form of a joint or survivorship annuity. This type of annuity allows for periodic payments to be made to both individuals, often continuing until the death of the last surviving person. Joint annuities can provide a way to ensure that both parties receive income during their lifetimes, offering financial security for couples or partners.
The symbiotic relationship in which both participating parties benefit is called commensalism?
Actually, a symbiotic relationship in which both parties benefit is called mutualism, not commensalism. In mutualism, both organisms benefit from the interaction, while in commensalism, one benefits while the other is neither helped nor harmed.
What is the benefit of a mutual will?
A mutual will is a legal arrangement between two parties, typically spouses, where both agree to a set of terms regarding the distribution of their assets after one or both pass away. The primary benefit is that it provides certainty and security for both parties, ensuring that their wishes regarding asset distribution are honored and cannot be altered without mutual consent. This can help prevent disputes among heirs and provide peace of mind, knowing that one partner's death will not lead to changes in the agreed-upon provisions.
A clownfish and a sea anemone both benefit from being together Their relationship could be described as?
Mutually beneficial. It is a type of symbiotic relationship in which both parties benefit.
If a divorce is uncontested would it benefit both parties involved to have different lawyers?
If it is uncontested it would benefit both party's not to share their money wit any lawyers.
In joint ownership if both parties are decease with no legal heirs or will how can the property be put in some else name?
If the parties truly have no heirs, it should escheat to the state. If it is real property, someone must pay the ad valorem tax on it each year. If no one does, then the tax authorities will foreclose, and it can be purchased at the foreclosure sale.
When both parties benefit from the sale this is known as a what situation.?
When both parties benefit from the sale, this is known as a win-win situation. In such scenarios, both the buyer and the seller feel satisfied with the transaction, having achieved their respective goals. This mutually advantageous outcome fosters positive relationships and encourages future interactions.
What happens in a symboiotic relationship?
A symbiotic relationship is one in which both parties benefit. "You scratch my back; I scratch yours."
Is mutualism when both organisms benefit?
Yes, mutualism is a type of symbiotic relationship in which both organisms involved benefit from the interaction. It is a form of cooperation where both parties gain advantages such as access to resources, protection, or increased chances of survival.
How does this alliance benefit both parties?
They both get help from each other and they share victories, but idk because im only 14 but it makes since to me :P
