Estate Planning 101

Notifying Fidelity Investments After a Loved One’s Passing

September 13, 2023

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When a loved one passes away, it's crucial to inform all relevant financial institutions, including investment companies like Fidelity Investments. If your loved one had annuities with Fidelity, notifying them is an important step to settle the account and understand the process for claiming the death benefit.

Who Should Be Notified

Fidelity Investments, specifically the Annuity Department, needs to be notified. As a leading provider of investment services, they manage accounts and annuities for millions of individuals. If your loved one held an annuity account with Fidelity, it's essential to inform them about the death to cease the annuity payments and process the death claim.

When to Notify

Notify Fidelity Investments as soon as possible after the death of the loved one. This expedites the process of settling the account and helps prevent any unnecessary continuation of annuity payments.

How to Notify

You can notify Fidelity Investments by calling their customer service line at 800-343-3548. You can also do it online through the Message Center in your Fidelity account, if you're the executor or authorized person. In both cases, you'll need to provide a copy of the death certificate.

What to Expect After Notification

Once Fidelity has been notified, they will stop any ongoing annuity payments and guide you through the claim process. This can include transferring the annuity to a beneficiary or processing a lump sum payment, depending on the specific terms of the annuity contract.

Tips for Notification

Keep a record of all correspondence with Fidelity, including dates and times of calls, and the name of the representative you spoke to. This can be helpful if there are any issues or delays in settling the account. If there are multiple beneficiaries, it's also important to coordinate closely with them during this process to avoid any miscommunication.

Conclusion

Notifying Fidelity Investments after the death of a loved one who held an annuity with them is a crucial step in settling their financial affairs. Although this can be a challenging task during a difficult time, understanding the process and preparing for it can help make it a bit easier.

FAQ

Q: What if I can't find the details of the annuity contract?
A: If you don't have the specific details of the annuity contract, Fidelity can typically locate the account using the deceased's full name and date of birth.

Q: Who can claim the death benefit?
A: The death benefit from an annuity can usually be claimed by the named beneficiaries on the contract. If no beneficiaries were named, the death benefit may go to the deceased's estate.

Q: What happens if there are multiple beneficiaries?
A: If there are multiple beneficiaries, the death benefit will typically be divided among them according to the terms of the annuity contract.