What happens to an annuity when I die and can I provide for a spouse/dependent?

This depends on the decision you make when you set up your annuity. There are different benefits that you can add to your annuity. You can choose for it to provide an income when you die for someone who currently relies on you financially. You can also guarantee payments for a certain period of time, even if you die during that period. You could choose a value protection option which guarantees that, if you die, we’ll pay a lump sum equivalent to the annuity purchase price, less any payments already made. These features will reduce the income that the annuity will pay. If you choose an annuity to just pay out while you're alive, it'll stop when you die. Once an annuity is set up and your cancellation period has finished, you can't change it.