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.
8 million insurance policies and annuity contracts
A new service of the Maine Bureau of Insurance assists people get individual life insurance policies or annuity contracts
of deceased policyholders.
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?
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.
Trustee could purchase a series of $78,000 deferred annuity contracts
each and every year the gifts are made to the trust.
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.
In addition, the examination found that sales of some life insurance policies and annuity contracts
were in violation of the agencies' own suitability standards.
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.
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).
can have more than one annuitant (e.
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