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Are annuities judgment proof in the state of Georgia?
In the state of Georgia, annuities are generally protected from creditors and are considered to be judgment proof if they meet certain criteria set by state law. This protection applies to qualified annuities, which are typically purchased through retirement accounts such as IRAs or 401(k) plans. Non-qualified annuities may have limited protection under certain circumstances. It is advisable to consult with a legal professional for specific advice on protecting assets from creditors in Georgia.
What is the accumation period for immediate annuities generally?
The accumulation period for immediate annuities is typically very short or even nonexistent. Immediate annuities start making payments to the annuitant shortly after the initial lump-sum premium is paid, usually within a month.
Can you get a license to sell annuities in Ohio if you have a felony?
It is possible to get a license to sell annuities in Ohio with a felony, but it will depend on the nature of the felony, how recent it was, and other factors. You would need to disclose your felony on your license application and undergo a review by the state insurance department. Each case is considered on an individual basis.
Are annuities safe during depression?
"Safe" is a relative term. No financial vehicle is entirely safe because there are a number of risks to your money, inflation risk, market risk, credit risk, etc. An excellent discussion of the types of risks and ways to manage them is at http://en.wikipedia.org/wiki/Financial_risk_management But to answer your question, I believe that during a depression annuities are the safest vehicle relative to all others, for a number of reasons. Annuity companies are required (by most states) to hold reserves nearly ten times that of banks. Most have a minimum rate, to protect against inflation risk, making them superior to cash under the mattress. Most have favorable liquidity option which, paired with the higher reserving requirements, helps reduce liquidity risk, that is, the risk that you won't be able to get at your money when you need it.
Where can one get more information about a pension annuity?
There is a fair amount of information available regarding pension annuities but this information may vary by country. One can find some information on the Aviva website as well as on Pension Matters.
Are tax deferred annuities exempt from civil judgment?
No.
Are annuities judgment proof in the state of Georgia?
In the state of Georgia, annuities are generally protected from creditors and are considered to be judgment proof if they meet certain criteria set by state law. This protection applies to qualified annuities, which are typically purchased through retirement accounts such as IRAs or 401(k) plans. Non-qualified annuities may have limited protection under certain circumstances. It is advisable to consult with a legal professional for specific advice on protecting assets from creditors in Georgia.
What are the different types of annuities available in insurance?
The different types of annuities available in insurance are fixed annuities, variable annuities, and indexed annuities. Fixed annuities offer a guaranteed interest rate, variable annuities allow for investment in various funds, and indexed annuities provide returns based on the performance of a specific index.
What are variable annuities?
ING variable annuities are annuities offered by the company ING which have variable rates of return. This is in contrast to fixed annuities which offer some sort of guaranteed rate of return over the life of the contract.
What are ING variable annuities?
ING variable annuities are annuities offered by the company ING which have variable rates of return. This is in contrast to fixed annuities which offer some sort of guaranteed rate of return over the life of the contract.
What are the different types of annuities available for investment?
The different types of annuities available for investment include fixed annuities, variable annuities, indexed annuities, and immediate annuities. Fixed annuities offer a guaranteed interest rate, variable annuities allow for investment in various funds, indexed annuities offer returns based on a market index, and immediate annuities provide regular payments starting immediately.
What are the different types of annuities available in the UK?
The different types of annuities available in the UK include fixed annuities, variable annuities, indexed annuities, and immediate annuities. Fixed annuities provide a guaranteed income, variable annuities offer the potential for higher returns but with more risk, indexed annuities are linked to a specific index, and immediate annuities start paying out income right away.
What are the different kinds of annuities available for investment?
There are several types of annuities available for investment, including fixed annuities, variable annuities, indexed annuities, and immediate annuities. Fixed annuities offer a guaranteed interest rate, variable annuities allow for investment in various funds, indexed annuities tie returns to a market index, and immediate annuities provide regular payments starting soon after the initial investment.
What are the main differences between fixed and variable annuities?
Fixed annuities offer a guaranteed interest rate for a set period, while variable annuities allow you to invest in different funds that can fluctuate in value. Fixed annuities provide a stable income stream, while variable annuities offer the potential for higher returns but also come with more risk.
Can a fixed annuity have a minimum interest rate and a flexible premium payment schedule?
Yes. ALL deferred annuities offer a guaranteed minimum interest crediting rate (although in a few contracts, that rate is zero). And all non-variable immediate annuities calculate the annuity payments using an assumed interest rate, so one could say that that rate is actually "guaranteed" (as the payments are). Some deferred annuities will accept only a single premium, and they're called "single premium annuities". Others will accept recurring premiums and are usually called "flexible premium annuities. Immediate annuities typically do not permit recurring premiums.
Why should someone consider purchasing annuities?
Someone should consider purchasing annuities because they provide a guaranteed income stream for a specific period of time or for life, offering financial security and stability in retirement.
What are the pros and cons of investing in IRA annuities?
Investing in IRA annuities can provide a guaranteed income stream in retirement and offer tax advantages. However, they may have high fees, limited investment options, and penalties for early withdrawals.
