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What is the difference between an annuitant and beneficary?
Annuitant is the original policy holder and receiver of benefits while beneficiary is the one legally authorized receiver of benefits in case of death of the annuitant.
When an annuitant initially begins receiving payments from her non-qualified annuity she can expect those payments to be?
When an annuitant initially begins receiving payments from a non-qualified annuity, those payments can be expected to be a combination of both return of principal and earnings. The portion that represents the return of principal is typically not taxable, while the earnings portion is subject to income tax. The exact division between these two components depends on the annuity's performance and the method of distribution chosen. Overall, the payments are generally designed to provide a steady income stream over the annuitant's lifetime or for a specified period.
What is a fixed income annuity?
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
Is my corporation an S corporation or a C corporation?
To determine if your corporation is an S corporation or a C corporation, you need to check with the IRS. S corporations have specific eligibility requirements and must file Form 2553 to elect S corporation status. C corporations are the default classification for corporations that do not elect S corporation status.
Who is responsible for a corporation debt?
the corporation
What is an annuitant?
An annuitant is the recipient of an annuity.
What is the difference between an annuitant and beneficary?
Annuitant is the original policy holder and receiver of benefits while beneficiary is the one legally authorized receiver of benefits in case of death of the annuitant.
What is annuitization?
An annuitant is the recipient of an annuity.
What is an annuitant driven annuity?
An annuitant-driven annuity is a type of annuity contract that primarily relies on the life expectancy and decisions of the annuitant, the individual who receives the annuity payments. This structure allows for tailored payment options based on the annuitant's age, health, and preferences, often resulting in a more flexible payout schedule. It contrasts with other annuity types that may be more rigid or based on predetermined criteria. Essentially, the annuitant's characteristics and choices shape the terms and benefits of the annuity.
What type of annuity settlement arrangement stops making payments when the annuitant dies?
A "life annuity" settlement arrangement stops making payments when the annuitant dies. This type of annuity provides income for the lifetime of the annuitant, but there are no further payments to beneficiaries after their death. If the annuitant passes away shortly after starting the annuity, the total payments received may be less than the initial investment.
What happens to annuity payouts upon death of annuitant?
Upon the death of the annuitant, the treatment of annuity payouts depends on the type of annuity contract. If the annuity has a death benefit or a designated beneficiary, the remaining value may be paid to the beneficiary. In contrast, some annuities may cease payments upon the annuitant's death, particularly if they were set up as single-life annuities. It's important to review the specific terms of the annuity contract to understand the implications of the annuitant's death.
If any company pays annuitant for a number of years Can they write you and cancel?
no
What is the difference between an annuitant and a beneficiary?
An annuitant is a person who receives regular sums of money that was earned by them. A beneficiary is a person who receives regular sums of money from someone else who has past away and selected them to receive the funds.
What is a period certain annuity and a life annuity?
Alright, buckle up, buttercup. A period certain annuity pays out for a specific period, even if the annuitant kicks the bucket before it's up. A life annuity keeps paying until the annuitant shuffles off this mortal coil, no matter how long they linger. It's like choosing between a fixed-term fling and a lifelong commitment in the world of annuities.
Can you name a beneficiary for an annuity in state of Louisiana?
An annuity will have the following: Owner, Annuitant , Beneficary. Yes the owner of an annuity may name a beneficiary for an annuity, even in the state of louisiana. (I am a native of Louisiana and can confirm that our laws are different). In most situations, the annuitant and the owner are the same. If the annuitant is not the owner, he or she may not have said power of naming the beneficiary.I am a Louisiana Insurance Agent and have handled many annuities in the State of Louisiana.Thanks
What type of life income option annuity guarantees periodic payments that terminate upon the annuitant's death?
The LIFE payout options available from an annuity or life insurance policy are of two types: (A) Life Only and (B) Life with Refund (A) Life Only - the contract guarantees an income (at least annually) for the life of the "annuitant" (the person whose age and sex determines the amount payable). At the annuitant's death, the contract ceases, without value. (B) Life with Refund - Like Life Only, this option will pay an income for the life of the annuitant. If the annuitant dies before the expiry of a specified period, such as 10 years (this is known as a "life and 10 Year Certain" payout) or before the annuitant has received a specified total amount (this is called "life and Cash Refund"), the remaining "refund" amount will be paid to the beneficiary. In the case of "Period Certain" options, the beneficiary will receive the remaining payments (e.g.: if annuitant died having elected a Life and 10 Year Certain and died after five years, the beneficiary will receive payments for the next five years. In a Cash Refund payout, the beneficiary will receive the lump sum difference between the specified lump sum and the cumulative value of income payments paid to the annuitant. It should be noted that NO annuity payout arrangement can EVER guarantee ANY amount to the beneficiary, as all such arrangements will terminate without value if the annuitant lives past the "refund feature" guarantee. LIFE payout are not the only way that annuities can provide income. A non-life payout, called "Period Certain", guarantees payment of income for a specified period of time (e.g.: 20 years), whether the annuitant is living or not. If the annuitant outlives the Period Certain, no further payments are made.
Does the youngest annuitant have to be over 59.5 to withdraw from annuity?
It depends on the terms of the specific annuity contract. Some annuities may allow withdrawals regardless of the age of the annuitant, while others may require the youngest annuitant to be over 59.5 for penalty-free withdrawals. It's important to review the contract details or consult with a financial advisor for specific information on your annuity.
