Annuity Contract

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Annuity Contract

The agreement outlining the terms of an annuity. Among other things, the contract spells out the contributions, employer matching contributions, benefit schedule, whether the annuity is fixed or variable, and what the early withdrawal penalties are. The annuitant and the insurance company agree on the annuity contract when the annuitant buys the annuity. Generally speaking, the insurance company maintains a standard set of annuity contracts to meet the needs of different annuitants.

References in periodicals archive ?

The Nebraska department put out a consumer alert in July, after it heard of malefactors making "numerous attempts" to get into annuity contracts owned by Nebraska residents.

Identity Thieves Are Trying to Loot Annuities

8 million insurance policies and annuity contracts in force.

Brighthouse Financial puts its brand on annuities

A new service of the Maine Bureau of Insurance assists people get individual life insurance policies or annuity contracts of deceased policyholders.

United States : MAINERS get New insurance service

In addition, can a plan sponsor with an Employee Retirement Income Security Act (ERISA)-governed 403(b) truly carry out its fiduciary duties with individual annuity contracts as plan investments?

Between A Rock And A Hard Place

Despite this, the insurance company is the entity that receives the investment returns on the underlying assets, but is permitted to satisfy its obligations under the annuity contracts from any funds it had available.

Annuities

Trustee could purchase a series of $78,000 deferred annuity contracts each and every year the gifts are made to the trust.

Beat the estate tax blow with deferred annuities and an irrevocable trust: is life insurance not an option for your client when it comes to legacy planning? Try an annuity instead

Legacy 403(b) products are usually individual-based products, he explains, and because 403(b) plans are often funded by individual annuity contracts, the plan sponsor does not have authority under the contracts to move the money to new investments.

403(b) Plans - Siblings, Not Twins

In addition, the examination found that sales of some life insurance policies and annuity contracts were in violation of the agencies' own suitability standards.

Citigroup insurance agencies pay $2 million fine

So-called stretch rules allow heirs-both spousal and non-spousal-who inherit assets (including annuity contracts that haven't been annuitized) inside a qualified retirement plan to stretch distributions over their lifetimes, meaning they can dodge the heavy tax burden that accompanies a one-time, lumpsum distribution of a death benefit.

The tax man commeth: with tax time just around the corner, the savvy advisor knows how to make the proper plans to help clients deal with (or entirely avoid) the tax repercussions of their valued annuities. Here are five life-saving strategies to discuss

Life insurance and annuity contracts can also benefit from the provisions for tax-free exchanges, which are often referred to as "Section 1035 exchanges" (after the governing Code provision).

Tax-free exchange

Annuity contracts can have more than one annuitant (e.

Annuities

The second part of a recent two-part Florida Bar Journal article titled "Unraveling the Mysteries of the Florida Exemptions for Life Insurance and Annuity Contracts, Part Two" discusses the creditor protection elements of annuity contracts.

Creditor's rights under private annuities and grantor-retained annuity trusts in Florida