Study guides

☆☆☆☆☆

Q: Can you draw annuity

Write your answer...

Submit

Still have questions?

Related questions

If the annuity is a non qualified tax deferred annuity (an annuity that taxes were paid on the money before they were placed into the annuity) you will pay taxes on any interest growth when it is removed from the annuity. If the annuity is a qualified annuity (no taxes were paid prior to placing the fund into the annuity) you will pay taxes on all withdrawals from the annuity.

difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity

ordinary annuity

The option to get annuity every month is called monthly annuity.

AnswerTwenty Frogs

A period certain annuity is an annuity that pays out an income stream for a set period of time. A life annuity pays an income out for the lifetime of the annuitant (the person whose life the annuity is based on).

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period

ordinary annuity we paid at the end of the period annuity due we paid at the begging of the period

Your annuity policy document should have all the withdrawal provision detailed for you. If not contact the company you have the annuity with and they can give you instructions. Before you withdraw from an annuity be aware of the tax treatment of your annuity withdrawals.

Annuity loans are when an annuity holder borrows money against the value of an annuity contract. It allows one to access funds without having to cash out their annuity immediately.

Perhaps you meant a "non-qualified" annuity? If so, a nq annuity is an annuity purchased with after-tax dollars; conversely, a qualified annuity is one purchased with pre-tax dollars, such as in an IRA or a TSA.

Refund Life Annuity

People also asked