What Happens To My Variable Annuity If I Die? 
All annuities are legal contracts . A feature of an annuity is that it designates a beneficiary . As an annuitant you select who any money owed you should be sent upon your death . Reviewing these designations is extremely important . If your beneficiary and contingent beneficiary predecease you , proceeds will then be paid into your estate and distributed by the probate court . 