Congress created a safe harbor pursuant to which certain annuities
are not considered resources for purposes of Medicaid eligibility.
In New York, however, New York State Insurance Department Regulation 187 (11 NYCRR 224), which became effective on June 30, 2011, does not require that insurance agents take a four-hour general course on annuities, but it does require that insurance agents take individual, product-specific training before recommending certain annuities
Later, certain annuities
began offering a long term care option.
The lawsuit claims the insurers are liable to policyholders with certain annuities
or life insurance policies for fraud and breach of duty because the insurers invested with so-called Madoff feeder funds.
Period certain annuities
promise to make payments for a stipulated period, such as 5, 10, or 20 years, or for the annuitant's life, whichever is longer.
Perhaps the time has come for life insurers to consider reducing fees on certain annuities
, such as variable immediate annuities, with the reduction funded by lower distribution costs.
insurance companies should consider taking the position that certain annuities
payments should be sourced based on the residence of the recipient of the payments.
These investments include mortgage-backed securities, some municipal bonds and certain annuities
allow their owner to invest in a wide variety of investment portfolios that can include stocks, bonds or other securities.
The Pension Protection Act of 2006 enabled certain annuities
to have an "income-doubler" that will enhance your guaranteed income payout by a factor of two for up to five years when qualifying long-term care is needed.