Sentences with phrase «allowed annuity owners»

For instance, in a similar step - transaction - doctrine issue with partial 1035 annuity exchanges and subsequent liquidations (which allowed annuity owners to get more favorable treatment in the multi-step process than could have been obtained if treated as a whole), the IRS ultimately declared in Revenue Procedure 2008 - 24 that as long as the taxpayer waited at least 12 months between the 1035 exchange and the subsequent liquidation, it would be allowed.

While many types of annuities allow the annuity owner to name a beneficiary (usually a spouse) who will be eligible for either continued payments or death benefits, a straight life annuity forgoes this added benefit in favor of higher guaranteed payments while the annuitant is alive.

Not exact matches

Nonqualified annuities are considered tax - deferred investment vehicles that allow the owners to designate a beneficiary.

While some types of annuities allow portions of the account value to be withdrawn for income needs, annuity owners typically can't withdraw the full account value in the early years of the contract without potentially paying a withdrawal charge.

People often turn to annuities for the tax benefits, as the structure allows owners to delay tax liability until later in life.

The deferred annuities will allow an owner up to age 90 with a Third Party signature.

Thus, the only type of annuity that allows the insurance company to keep the undistributed balance of the investment when the owner passes away is a lifetime immediate income annuity account with no period certain.

Annuities typically earn more in interest than CDs and allow owners to defer taxes as well.

Like other types of cash value life insurance policies which allow policy loans, most annuity contracts allow owners to borrow against the annuity contract's accumulated cash value.

The key benefit with fixed annuities is the safety of principal that they allow their owners — along with the satisfaction knowing that they will not be losing the money that they have oftentimes worked a lifetime to save.

You might also ask if your annuities income rider will allow you to take an income based upon the annuity owner's life or can it provide a dual payout for both of the spouses?

Named after Section 1035 of the Internal Revenue Code, a 1035 exchange allows life insurance policy owners (and annuity contract owners) to exchange an old policy (or contract) for a new one from a different insurance company without tax consequences.

In other words, an indexed annuity allows the policy owner to potentially receive more interest than a traditional fixed annuity, but without being subject to market risk.

Nonqualified annuities are considered tax - deferred investment vehicles that allow the owners to designate a beneficiary.

Most deferred annuities have a «free withdrawal provision» that allows contract owners to receive a certain amount each year without incurring fees, though what that amount is will vary depending on contract specifics.

Some companies allow the insured to re-up the rider for another ten years, but most contracts stop rolling up once the annuity owner turns age 85.

Annuities typically earn more in interest than CDs and allow owners to defer taxes as well.

Living benefit riders allow for benefits to paid when applicable during the life of an annuity owner or insurance policyholder.

Annuities allow for the owner and annuitant to be different people.