Sentences with phrase «payment from the annuity»

You can start receiving payments from your annuity as early as one year after the contract is issued, or at any time thereafter.

Generally, the person who receives income payments from the annuity.

In return, the insurance company promises to make payments from the annuity to you in a single or series of payments.

If you wish you receive a lump sum payment from your annuity plan, then you will need to sell it, as if it is an asset.

If your RRSP funds are transferred to an annuity, periodic payments from the annuity will also be taxed in the year of receipt.

You pay one lump contribution, and you'll start getting payments from the annuity within the next month or year.

It is the latest date on which you can begin receiving payments from your annuity under any of the settlement options available to you.

You receive payments from the annuity over a period of time selected by you.

Generally, the person who receives income payments from the annuity.

In return, the insurance company promises to make payments from the annuity to you in a single or series of payments.

The money in your annuity grows tax - deferred, meaning that it's not taxable until you begin to receive payments from your annuity.

Withdrawals and payments from annuities also may be subject to income tax and, if taken prior to age 59 1/2, an additional 10 percent IRS tax penalty may apply.

Annuitize: To begin a series of payments from an annuity.

During this phase, the annuitant receives regular payments from the annuity plan.

In making this type of a gift, the Dodds will receive steady, guaranteed lifetime payments from the annuity — a tax - advantaged way to provide income during their retirement as well as to support the school's mission.

Q: Do payments from an annuity (bought with after - tax money) trigger a clawback of the Guaranteed Income Supplement?

Life - only provides you with regular, guaranteed income payments from your annuity for life.

The monthly payments from annuities with tax - sheltered funds are fully taxable when withdrawn as neither the capital or return thereon has been taxed in any way.

But a number of companies have products on the drawing board a result of the Pension Protection Act of 2006 that allows for tax - qualified long - term care benefit payments from annuities beginning in 2010.

You recognize your capital gain on a prorata basis as you receive principal payment from the annuity.

Withdrawals and payments from annuities also may be subject to income tax and, if taken prior to age 59 1/2, an additional 10 percent IRS tax penalty may apply.

In return, the insurance company takes the risk of market downturns to protect your annuity value and also promises to make payments from the annuity to you in a single payment or series of payments, over a fixed number of years.

At a set time, the annuitant receives regular payments from the annuity.

Annuity buyers, in this case, will need to decide how much the surviving spouse will need to receive in income payments from the annuity.

In return, the insurance company takes the risk of market downturns to protect your annuity value and also promises to make payments from the annuity to you in a single payment or series of payments, over a fixed number of years.

Payments from an annuity can start immediately, or at some point in the future.

The payment from an annuity is a combination of return of capital and interest.

Withdrawals and payments from annuities also may be subject to income tax and, if taken prior to age 59 1/2, an additional 10 percent IRS tax penalty may apply.