Do Fixed Annuities Have A Death Benefit? 
All annuities can designate a beneficiary . Once an annuity starts paying a lifetime income , the option selected will determine if there is any death benefit payable . The basic option is a lifetime income and while this benefit will pay until the annuitant dies , there isnt any benefit for a beneficiary . However , there are options for having the benefit cover the lives of two individuals , or last a specific period of time . These would result in either a continuation of benefits for the beneficiary . 