According to a January 25, 2024 release by Prudential Insurance Company of America:
The death during payout options and all other Prudential structured settlement annuity products.
** If commutation is elected, and the claimant then dies during the deferral period, and the death occurred relatively close in time to the date of sale, it is possible that the lump sum payable to the beneficiary(ies) could be an amount that is less than the premium amount paid for the annuity.
Prudential Insurance Company of America, founded in 1875, with its home office in Newark, New Jersey, is one of America's oldest insurance companies.
There is still work to be done, in my opinion to move to an adoption of second generation responsive commutation riders. I have authored several articles about the need for responsive structured settlement payment riders on my Structured Settlement Watchdog blog.
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