Annuities

It all depends on what the provisions of the estate documents state. However, next of kin means a blood relative so the distant cousin would be the heir. In order for the step son to be a next of kin they would have to have been adopted with the provisions stating that the adopted child would be considered as a natural born child of the deceased. Being that there is no will it will go by the guidelines of the intestacy laws (laws for a deceased without a will) which in most cases looks for the nearest blood relative. You may contest this through the courts but there is no guarantee that you will receive any of the money.

Annuities are bought by a consumer and not sold. There is a contract offered by an insurance company with promises, guarantees and provisions set forth within said contract. If both parties agree, then this contract is applied for by an individual and if accepted by the insurance carrier the two sign a contractual agreement as set forth by the terms of the product.

Contact your financial planner or company that carries your annuity and ask for a change of direct deposit form. Complete this and send back to your company with a new voided check.

This would be called an indexed annuity or an equity indexed annuity both meaning the same thing.

A non qualified annuity is purchased with after tax dollars. The only portion of the annuity that is taxable is the interest portion. This is taxed upon the withdrawal from the annuity at a ration set forth by the company under the guidelines of the IRS.

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12 years.

This type of annuity would be a variable annuity. There are no guarantees on your interest and you may lose some or all of your principle. They do have the ability to grow at higher rates when the markets are up.

Generally speaking, an annuity company's guarantees are as safe as the company. Every state's insurance department monitors the assets of those companies that are doing business in their state to make sure that they'll be able to meet their obligations. As far as I know, American Equity is a legit company but check with your state's department of insurance/annuities to make sure they are approved to sell annuities in your state.

The NAIC, LIMRA and the State Insurance Department of your state.

A tax deferred fixed annuity pays a flat interest rate.

This depends on the company but usually anywhere from immediately to three years.

That actually depends on what type of annuity you are purchasing. That being said a ball park average would be around 5%. However, this is just a ball park figure because there are so many types of annuities and each company has their own guidelines.

Only if you are over 59 1/2 and passed all surrender periods. At that time you can consider it a part of your liquid net worth.

Allianz Life Insurance of North America has been a leading company for many years.

Variable annuities require a securities license to sell them.

Contact the issuing company as listed in your contract.

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.

Yes, you need a license to sell indexed annuities. You also have to carry errors and omissions insurance and maintain a certain number of continuing education credits.

Depends on the State Laws, the divorce proceedings and the division of assets. In many cases a portion of the annuity may have to be forfeited to the soon to be ex-spouse.

It is called the rule of 72. You take the interest rate you will be receiving and divide that number into 72. the answer will be the number of years it will take you to double your money at that interest rate.

It increases

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