0
Annuities
Annuities are financial products designed to grow an individual’s funds and later, upon annuitization, to distribute payments back to the individual over a specified period of time. It is mainly used to secure a steady flow of cash during retirement.
849 Questions
Can your deceased husband's annuity be taken away when you remarry?
If you are the primary beneficiary and there are no provisions stating that the funds end when you remarry then no. If the estate is the beneficiary and it states in the documents that you will stop receiving payment upon remarrying then yes. Carefully review all documents as well as contact the annuity carrier for clarification on this.
A deferred annuity is a product by which the money within the product grows at a tax deferred rate. This means that you do not have to pay taxes on the portion of money that is taxable until you begin to withdraw it. With an annuity there are many ways to remove money from them.
Who would a Single Premium Immediate Annuity be appropriate for?
In most cases a single premium immediate annuity would be suitable for someone wanting to create a monthly ditribution for a certain period of time or for life. The second choice is whether this will be a single monthly distribution for one individual or a joint payout for two individuals with or without a survivors benefit.
What was the annuity system involving the US government and Indian tribes?
system under which the federal government gave annual monetary grants to Indians
What company use this number 202-905-0678?
I'm sorry, but I don't have access to real-time databases or the ability to identify specific phone numbers and their associated companies. To find out which company uses the number 202-905-0678, you might consider searching online, checking reverse phone lookup services, or contacting the number directly if it's safe to do so.
What is the difference between immediate annuity and deferred annuity?
First, the word "annuity" can be used for different things. Be sure to know what you're working with. Annuities are investments through insurance companies. There are good and bad. Annuities might ALL be called "deferred" because their earnings are tax deferred. You pay taxes on the earnings when you take money out. The IRS sets the rules. Annuity earnings WILL BE taxed, even if received in monthly payments or passed on to beneficiaries.
Immediate and deferred refer to 2 different features of annuities. Deferred is taxes. Immediate is payments. If you place a lump sum with the insurance company, they can start paying you monthly payments based on that lump sum. If the payments start immediately, it is called immediate. If payments start later, it could be called deferred. Annuities can be wonderful or horrible, so do lots of good research.
Is there a difference between a life annuity and an insurance annuity?
There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.
Yes, just call a JG Wentworth account representative and they will be able to work with your situation and give you a free consultation.
Can you lose money on an annuity account?
Absolutely. HOWEVER, it depends on the type of annuity and the decisions you make. Annuities are great, but too complex for one simple answer. "can" you lose money? Yes. Will you? Depends on what you get and what you decide to do with it. "can" annuity insure you don't lose money? Depends on what you get and what you decide to do with it. A tv personality who says annuities are always bad and a sales hype that says annuities are always good are both wrong.
If a beneficiary of an annuity passes away, the distribution of the remaining funds typically depends on the terms of the annuity contract. In many cases, the annuity will specify whether the funds go to a contingent beneficiary or revert to the annuity owner’s estate. If the deceased beneficiary did not designate a contingent beneficiary, their children may be entitled to the share, but this would ultimately depend on the specific terms of the annuity and applicable state laws. It's advisable to consult the annuity contract and potentially seek legal advice for clarity.
What are the 2 basic types of variable annuities?
The two basic types of variable annuities are traditional variable annuities and indexed variable annuities. Traditional variable annuities allow investors to allocate their premiums among various investment options, typically mutual funds, with returns that fluctuate based on market performance. Indexed variable annuities, on the other hand, offer returns linked to a specific stock market index, providing a balance between potential growth and some level of downside protection.
Annuities have been described as reverse life insurance policies. You pay a large amount to your insurance company to start it and will receive small cash amounts over time. It's the opposite of insurance.
Where can you find more information about life annuities?
You can find information about Life Annuities by contacting your local bank representative or your local financial advisor.
Are annuities a safe investment?
A variable annuity is not safe if you can't afford to lose money. A fixed annuity may not be safe if you can't afford not to make reasonable stock market type return.
What are annuity rates and what do they do?
Annuity rates allow you to pay off a specific amount of money over an extended period of time. If you don't have all the money at one point, you can gradually pay it off later.
How often do annuity rates usually fluxuate?
Assuming that "annuity rate" means the rate of interest paid on a deferred annuity, the answer depends upon whether the annuity is a VARIABLE one or not. The contract value of a VARIABLE deferred annuity is tied to the investment performance of the separate accounts chosen by the purchaser. These accounts are much like mutual funds, and their value will fluctuate, often daily. In a VARIABLE deferred annuity, there is no guarantee of principal or minimum interest (unless you've invested in the "fixed" account).
In a non-variable annuity, often called a FIXED annuity, principal, and a minimum rate of interest is guaranteed. In addition to that minimum rate of return, most deferred annuities offer additional, non-guaranteed, interest. There are two types of fixed annuities: (a) "Declared Rate" and (b) "Indexed".
Declared rate deferred annuities generally declare the current, non-guaranteed interest rate each year. Index annuities may declare and credit interest each year or retroactively, after several years.
For more information, see Olsen & Kitces,"The Advisor's Guide to Annuities" (3rd ed.,2012, National Underwriter Co.) or "Olsen & Marrion, "Index Annuities: A Suitable Approach" (Olsen & Marrion LLC, 2011).
Can you borrow from this type of annuity?
There are no annuities that you can borrow against. You can certainly make withdrawals, but there may be penalties associated with doing this, so I don't recommend it unless it is an absolute emergency.
Is a vanguard variable annuity a good investment?
A Vanguard variable annuity does seem be a good investment in the current market. As with any investment, there are no guarantees of profitable returns.
What is vanguard variable annuity?
A vanguard variable annuity is a low-cost, no surrender fee, deferred variable annuity.You have to pay an initial fee of around $5,000 to start it up.
