A Survivor Benefit is a percentage of the annuitant's pension. The size and structure of the payment is determined by the type of policy the annuitant held at the time of their death.
For example, a beneficiary might be entitled to 65% of the annuitant's monthly pension. Alternatively, the benefit may be a large lump-sum payment from a life insurance policy.
Also See: Annuity
Back to the top of the page for Survivor Benefit