Who is authorized to assign a deferred annuity to another person?

The owner of a deferred annuity has the authority to assign that annuity to another person. This means that the individual who purchased the annuity or holds the rights to it can legally transfer those rights, including any payments or benefits, to a different party. This power is typically outlined in the contract of the annuity, which grants the owner the ability to manage and change beneficiaries or to assign the benefits to someone else as desired.

In the context of deferred annuities, it is crucial to recognize that the owner has the flexibility to ensure that the annuity benefits align with their financial planning and objectives. While other parties, such as beneficiaries or co-owners, may have interests in the annuity, they do not possess the legal authority to reassign the annuity rights without the owner's consent.