Final answer:
In the event of the annuitant's death during the accumulation period of an annuity, the designated beneficiary receives the annuity benefits. If no beneficiary is named, the benefits may become part of the annuitant's estate.
Step-by-step explanation:
If the annuitant dies during the accumulation period of an annuity, the benefits typically go to the beneficiary designated by the annuity contract. It is the beneficiary who receives the remaining value of the annuity, not the annuity owner, unless the owner and the annuitant are the same person, nor the insurance company, nor directly to the annuitant's estate unless specified as the beneficiary.
However, if no beneficiary is designated, the proceeds may indeed become part of the annuitant's estate. Policies can vary, so it's important to review the specific terms of the annuity contract.