Annuities

The commissions on fixed annuities are the lowest of any type of annuity. The surrender time for a fixed index annuity can be as short as four years, although most have a surrender charge of 10 years. A 6- to 8-percentage-per-year commission is charged on a 10-year fixed index annuity. In most cases, commissions on […]

In the year you get the income from an annuity purchased with registered funds, you are subject to full taxation. An annuity purchased with non-registered funds is taxed on the income received in that year, although only a portion of each payment is taxable. Do you have to claim an annuity on your taxes? Is

It is the IRS mandated minimum yearly withdrawal from tax-deferred retirement funds for participants aged 70 1/2 or 72, depending on the year of their birth. In order to avoid penalties, RMDs must be taken from annuities held within an IRA or 401(k). Withdrawals are not required from non-qualified annuities, which are funded with post-tax

People are becoming more interested in annuities as a means of saving for retirement. When I wrote a column regarding life annuities two weeks ago, people started asking a lot of questions about how these income-for-life generators actually work (read it online here). Here are some of the most frequently asked questions, with solutions provided

The annuity option for retirement planning has finally piqued people’s interest. When I wrote a column regarding life annuities two weeks ago, people started asking a lot of questions about how these income-for-life generators actually work (read it online here). From insurance companies and financial advisors, we’ve compiled a list of some of the most

It’s possible to convert your life insurance policy to an annuity if you’ve paid into it and built up its cash worth. There is a lifetime of assured income to come from the transfer. Can you 1035 exchange a life insurance policy into an annuity? A new life insurance policy on the same individual can

A qualifying plan such as a 401(k), 403(b), or even another IRA allows you to transfer your annuity without incurring any taxes or penalties. Until you receive payments from your IRA, the money grows tax-free. Rollovers can be done in two ways: either as a distribution and subsequent IRA contribution within 60 days, or as

Individuals over the age of 70 can make a donation to the Arthritis Society while receiving a lifetime income from a charitable gift annuity. It is possible to improve your after-tax spending power through charitable gift annuities. Can annuities be donated to charity? Gift annuities are offered by many significant nonprofit organizations, including a number

If you like, you can receive income payments for the rest of your life. The frequency of annuity payments varies depending on the type of annuity you select. Three times a year. Can you contribute monthly to an annuity? Payouts can be made in a variety of ways, such as monthly, quarterly, or yearly. Depending

Consult a specialist if necessary. Certified Financial Planner Board of Standards Inc. mandates fiduciary conduct for all its members beginning in 2019. According to a new Code of Ethics and Standards, CFPs are required to always operate in their clients’ best interests. An advisor should lead you through their own inquiries as part of their