Charitable gift annuities allow donors to receive annuity payments in exchange for a monetary or property donation to a charity, writes Brian O’Connell. Among the advantages are an immediate tax deduction and the potential for some of the annuity income stream to be tax-free, he writes. TheStreet
The protections built into fixed-indexed annuities make them particularly useful to retirees when markets turn volatile, according to finance expert Dr. Wade Pfau. “This protection may make it easier to retire successfully in down market environments,” he says. Kiplinger online
InsuranceNewsNet Senior Editor John Hilton looks at developments in federal and state regulations that are likely to affect annuity sellers. While much is still up in the air, he notes that tougher regulations are “coming sooner rather than later.” InsuranceNewsNet Magazine
CANNEX researchers look into the question of which type of annuity pays the most guaranteed income and found that the answer depends of several factors, including the client and timing. “[A]dvisors need to rely on real analytics, not traditional perceptions or best guesses of how guarantees work, to best serve…
Qualified longevity annuity contracts are an effective solution for an aging population fearful of running out of money in retirement, but so far QLACs haven’t attracted significant assets, according to a report from Cerulli Associates. The Treasury Department and the IRS made QLACs accessible to 401(k) plans and individual retirement…
The Securities and Exchange Commission should not impose a best-interest standard on insurance agents selling fixed annuities, an industry group said in a comment letter to the SEC. The Fixed Annuity Consumer Choice Campaign argued agents are already legally bound to give clients full and accurate disclosure and only make…
The “theoretical attractiveness” of annuities “hasn’t translated to the marketplace,” and one of the key reasons is annuities’ label and its overall marketing, writes John Rekenthaler, vice president of research for Morningstar. He suggests rebranding annuities by calling them “guaranteed income.” Morningstar
Annuities may not be a perfect fit for every client, but advisors are failing to serve their clients and in their own fiduciary duty if they never mention them, says Lance Carlson, Great-West Financial’s head of sales distribution. He notes that annuity products offer simplified compensation structures and competitive withdrawal…
A critic of fixed-indexed annuities argued that buyers are giving up growth when, in fact, they are choosing safety for their invested funds, writes financial planner Stephen Kelley. He discusses the benefits of FIAs and the fallacy of believing “that everything is a choice between the market and some inferior…
Annuities can be helpful in preserving client assets while also maintaining eligibility for Medicaid long-term care benefits, but the rules are complicated and it is important to comply with them, according to elder law specialist Yale Hauptman. “There is great danger in attempting it and failing,” he says. Financial Advisor…
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