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Which of the following is not true regarding the accumulation period of an annuity

Living trust funds, annuity trusts, unitrusts, pooled income, and gift annuity funds are derived from gifts and bequests, the terms of which stipulate that income must be paid to a designated beneficiary for a specified period, which in most cases is the duration of the beneficiary's life. Which of the following is true? A. It may be issued as a non-qualified annuity or an IRA. The Marquis SP is designed for long-term accumulation and access to lifetime income for retirement. Annuity, Variable An annuity that features accumulation or loss based on the performance …6) What are the tax implications when an annuitant elects to take cash surrender of a deferred annuity during the accumulation period at age 56: A: Only the interest is taxable as ordinary income, plus a 10% early withdrawal penalty B: All the funds distributed are taxable as ordinary income C: All of the funds distributed are taxable as a . "Immediate" means, in the context of annuities, an annuity that is fully funded at purchase with no accumulation or deferral to allow accumulation. B. If an investor frequently contributes to his annuity during the accumulation period (and if this period is long), his investments can grow significantly. While it is true that annuities offer some distinct tax advantages, it is also true that they contain tax pitfalls for the unwary. Annual Rider Charge Rate (% of Benefit Base) 1. when each of the following occurs: at the end of each contract year, when a withdrawal is taken, on the Annuity Date, if the rider is terminated, upon surrender or upon the date of proof of death. A contract providing income for a definite and specified period of time, with payment going to a designated beneficiary if the annuitant dies prior to the end of that period. 4% (1% in MN) Rider Charge True-Up At the end of each Rider Charge True-up Period, if the Rider10 Annuity Secrets You Need to Know! Presented by Al Martinez, A tax deferred annuity has two parts: the accumulation where you let your money grow, and the payout. "Income" means, in the context of a trust, the undistributed proceeds that a trust principal generates over a period including, but not limited to, interest, dividends, rents and realized gains on the sale or exchange. 3 The University currently accepts the following types ofThe Lafayette Life Insurance Company Agents Products Quiz This annuity is not a security and should not be marketed as such. If both pay 5%, the annuity interest would not be included as income as long as it remains in the annuity contract. During accumulation, annuity. This is especially true with a deferred annuity--the more money that is contributed to the annuity during this period, the greater the income stream will be once this period is over. we compute the present value of an ordinary annuity of 1 for the entire period and subtract the present value of the rents which were not received during the deferral One feature many annuity salespersons extol is the tax-deferred nature of an annuity. The future value of a deferred annuity is computed using 1 more compounding period than the future value of an annuity not deferred. The tax code regarding annuities is very complicated and, in many instances, not entirely clear

 
 
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