How to claim a deferred annuity

The options vary depending on the type of claim. There’s a claim settlement request form included in your packet. It shows your options and asks you to choose how you want to get paid.

Life insurance: You can choose a paper check or bank wire. There may be a $20 fee for domestic wire transfers.

Immediate annuities: You can continue to receive payouts or take a lump sum. If you choose to continue payouts, you can pick electronic funds transfer (EFT) or paper check. You can’t change your mind after you make this decision, so choose carefully.

For lump sums, you can choose a paper check or bank wire. There may be a $20 fee for domestic wire transfers.

Deferred annuities: For individuals, your options are lump sum, deferral or annuitization, which spreads the tax liability over several years along with payouts. You’ll need to submit all the requirements 45 days before the one-year anniversary of the annuity owner’s death.

For trusts or estates, options include lump sum or deferral.

For lump sums, you can choose a paper check or bank wire. There may be a $20 fee for domestic wire transfers.