Annuities

Surrender charges for annuities refer to the penalty a contract owner will face if they surrender (cancel) their deferred annuity contract before the surrender charge period has expired, or if they withdraw a portion of their account balance in excess of their allotted penalty-free withdrawal amount. You will be charged surrender fees, also known as […]

The type of annuity and the payout plan determine what happens to it after the owner passes away. Annuity payout options come in a variety of shapes and sizes. Some annuities provide for payments to be given to a spouse or other annuity beneficiary for years after the annuitant’s death, while others provide for payments

If an annuity contract has a death benefit provision, the owner can name a beneficiary to receive the remaining annuity payments after he or she passes away. An inherited annuity’s earnings are taxed. The tax treatment of inherited annuities is determined by the payment structure and whether the annuitant is the surviving spouse or someone

If an annuity contract has a death benefit provision, the owner can name a beneficiary to receive the remaining annuity payments after he or she passes away. An inherited annuity’s earnings are taxed. The tax treatment of inherited annuities is determined by the payment structure and whether the annuitant is the surviving spouse or someone

The type of annuity and the payout plan determine what happens to it after the owner passes away. Annuity payout options come in a variety of shapes and sizes. Some annuities provide for payments to be given to a spouse or other annuity beneficiary for years after the annuitant’s death, while others provide for payments

The amount of your Social Security disability payments may be reduced if you receive retirement or annuity income from a government pension. Because the majority of payments to government pensions and annuities are tax-free, this is the case. The Social Security Administration refers to this reduction as a “offset,” and its Government Pension Offset booklet

Commissions from a variety of investment products are available to financial advisors, including: Insurance products: Selling insurance products can come with a lot of benefits. Commissions for some consultants could be as high as 70% of the first year’s premium. After that, as long as the policy is active, they may get an additional 3%

Starting an annuity at a later age is definitely the greatest option for someone with a relatively healthy lifestyle and strong family genes. Waiting until later in life assumes that you’re still working or have other sources of income in addition to Social Security, such as a 401(k) plan or a pension. It’s not a

Qualified annuities, which are annuities purchased using pre-tax monies in a qualified retirement plan, are subject to the necessary minimum distribution requirements. The statutory minimum distributions do not apply to non-qualified annuities acquired using after-tax funds. Immediate annuities provide guaranteed payments for the rest of the insured’s life and are exempt from RMD requirements. Within

Yes, you can cash out your annuity installments. You can sell your current or future payments for a lump sum of cash if your financial needs change and an annuity no longer meets them. Annuities can be purchased in pieces or in their whole. Can I cash in my annuity without penalty? Waiting until the