Annuities

There’s no getting around it: in order for an annuity to perform to its full potential, you must allow it to sit and accumulate (typically for about 10 years). In the event that the annuitant wishes to withdraw from the investment early, they will be subject to harsh penalties known as surrender charges. The higher […]

3. Transfer money from an annuity tax-free. You can transfer money from an annuity tax-free to cover premiums for a standard long-term-care policy or to pay for another annuity with long-term-care benefits. To pay the premiums, the transfer (known as a 1035 exchange) must be made straight from the annuity. You must pay income taxes

Whatever your reason for wishing to get rid of an annuity, there may be several options available to you. Before you dissolve an annuity contract, here’s what you need to know about your alternatives – both the good and the bad. The “free look” provision If you bought your annuity recently, you may be able

You can fund your annuity contract during the accumulation phase by depositing cash, exchanging life insurance cash values, or performing a 1035 exchange from another annuity (to name a few ways of contributing). Can you contribute to an annuity? One of the most significant benefits of annuities is that they allow you to save a

You have several alternatives when it comes to selling your annuity. You have the option of selling the entire thing or just the right to some of your future payments. Selling a portion of your annuity typically involves forfeiting payments for a certain period of time, such as one to three years, or selling a

Annuity payments and structured settlements can usually be paid out at any time. You can sell a portion or all of your future structured settlement payments for cash right now. On the selling of structured settlement payments, buying companies charge a discount rate that ranges from 9% to 20%. Can you cash in an existing

Annuity payments and structured settlements can usually be paid out at any time. You can sell a portion or all of your future structured settlement payments for cash right now. On the selling of structured settlement payments, buying companies charge a discount rate that ranges from 9% to 20%. Can I cash in an existing

Annuity payments and structured settlements can usually be paid out at any time. You can sell a portion or all of your future structured settlement payments for cash right now. On the selling of structured settlement payments, buying companies charge a discount rate that ranges from 9% to 20%. Can I cash in my Prudential

Please indicate if there are any fines I could face if I withdraw money from my Liberty RA, which I believe is worth less than R7 000.00. As per my request to Liberty, it is currently paid up. Answer: If you’ve paid up your Liberty RA account, Liberty will usually have deducted any termination fees

A query about the taxes that will be paid while giving a variable annuity to one’s offspring was recently posed of CNN Money. Money Magazine’s Anne C. Lee clarified the ambiguity around variable annuity giving. There are two critical issues to investigate. To begin with, unless the current annuity value exceeds an individual lifetime gift-tax