Many times, I wonder if today’s annuity rates will be the best we are going to get. As of now, a 3.00% crediting rate (on average) can be had on declared fixed rate deferred annuity contracts with durations of seven years or longer, generally from carriers with an AM Best FSR of A- or better. In the fixed immediate annuity market and unless you are able to incorporate some kind…
Tag: Immediate Annuity
Elder Financial Fraud and Immediate Annuities
One of the problems regarding elder financial fraud is average families have not fully considered all the merits of the array of financial products and how they might work to protect them from elder financial fraud. However, in today’s day and age, this is surprisingly an extremely short list indeed. The protection really needs to start at the financial product level and not just be some new advisor practice penalty,…
It’s Splitsville: Divorce and SPIAs 2015 Update
A few readers asked me to make further comments regarding the particular deferred income annuity (DIA) marital property case involving an IRA DIA contract highlighted in the LifehealthPro article I authored last year in April 2014 when DIAs feature adjustable start dates. Most DIA (IRAs and non-qualified) contracts feature adjustable start dates that can, upon the owner’s request, be advanced or delayed up to five years from the issued contract’s…
In the Deep Dark World of Supplemental Annuity Contracts; Owners Rights May Not Be Protected!
So, what’s the big deal, anyway! I don’t believe too many agents, CPAs or attorneys have seen a supplemental annuity contract. Supplemental annuity contracts are issued by carriers when owners elect to either partially or fully annuitize their existing deferred annuity contracts or life insurance policies. What many agents and individuals don’t realize is there is no state filing requirements for supplemental annuity contracts! This leaves the door open for carriers…
