This is a tricky situation, if you take an income stream from your annuity it may put you over the income limits to receive disability income. You should convert the CD in a Single Premium Whole Life product, they won't count it as a liquid asset although it liquid to you.
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).
A lifetime annuity is an annuity that is purchased with a payout period that will, in most cases, give a predictable payment each month for the lifetime of the annuitant (the individual whose life the annuity is on).
A Grantor Retained Annuity Trust is irrevocable.
When a person buys an annuity, a life contingency allows the beneficiary to receive a payout if the person dies while they are still paying into the plan.
a perpetual annuity is an annuity that continues forever- it has an infinite life.That is every year from its establishment this investment pays the same dollar amount.An example of a perpetuity is the dividend stream on preference shares.
no
Not from the parent that is losing parental rights.
An immediate annuity is something that will give you a stream of income for life. You can purchase them from insurance companies. They are great because even if you live to be 120 years old you will still get payments.
A total rip off company that preys on the elderly. They come door to door and target the elderly. They sold my mother a $15,000.00 annuity and she is 80 years old. The money was secure and in a CD. Who needs an annuity when you are 80 years old?
You can copy songs from a CD to a computer. The CD is not changed in anyway.
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.
Annuity insurance is a policy which one would have and would withdraw on. They are popular with persons who still would like a steady income after retirement. One could invest and yet still receive funds to live on.
Yes. you still need to attend court hearing even though your case is approved.
SSDI is also known as Social Security disability insurance. There is not saving this all you can do is apply for it.
Assuming that the annuity in question is a "deferred" annuity (that is, that it is not already providing regular annuity payments), the answer depends upon whether you're over 59 1/2 or not. If you're not, any distributions from that annuity will be taxable as Ordinary Income AND subject to a 10% penalty tax - 10% of the amount of the distribution (IRC Sect. 72(q)). Not a very attractive result. If you're over 59 1/2 and still attending school, BRAVO! But the distribution from your annuity will still be taxable (but without that 10% penalty tax).
difference between an annuity and a compound annuity?Read more: What_is_the_primary_difference_between_an_annuity_and_a_compound_annuity
ordinary annuity