The annuity owner dies during the accumulation period of his annuity. The cash value of his annuity exceeds the premiums he paid. There is no named beneficiary. Which of the following is true? 1. The premium value will be paid to the annuitant’s estate. 2. The state government will receive the amount of premiums paid. 3. The state government will receive the cash value of the annuity. 4. The cash value will be paid to the annuitant’s estate.

The annuity owner dies during the accumulation period of his annuity. The cash value of his annuity exceeds the premiums he paid. There is no named beneficiary. Which of the following is true?
1. The premium value will be paid to the annuitant’s estate.
2. The state government will receive the amount of premiums paid.
3. The state government will receive the cash value of the annuity.
4. The cash value will be paid to the annuitant’s estate.

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