IRS Releases Proposed Regulations to Create Qualified Longevity Annuity Contracts

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REG–115809–11, Released February 3, 2012  On February 3, 2012 IRS released proposed regulations regarding the establishment of “qualified longevity annuity contracts” (QLACs). The new QLAC rules will allow retirement account owners to purchase certain annuity contracts with a portion of their retirement assets that will be able to be excluded from their required minimum distribution (RMD) calculations. Annuity payments, the ONLY distribution option available from QLACs (no lump-sum … [Read more...]

Filed Under: Annuities, Featured Home Ad Top, Financial, Financial Planning
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Do You Pay Taxes on Social Security Income

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Many retirees are surprised when they lose a substantial chunk of their Social Security income to taxes. Here is what you need to know: if your gross income amounts to less than $25,000 a year (excluding one-half of your Social Security benefits), none of your monthly check will be taxed. Or, if you are married and you and your spouse together make less than $32,000, you are also in the clear. However, as soon as you enter the next income brackets – which I am sure include many of you – the … [Read more...]

Filed Under: Annuities, Financial, Financial Planning, Pick Right
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The 3 Primary Variable Annuity Objections and How to Handle Them

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If you sell variable annuities, you’ve probably been here before: You have an ideal candidate for a variable annuity – for example, someone whose income is high but has already maxed out 401(K) contributions; or someone in their late 50s without a traditional pension – but he or she is extremely reluctant to even consider one. Why? As with any financial investment, variable annuities do have their detractors. Most likely your client’s hesitation is due to one of three main objections … [Read more...]

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Annuity Sales Tips, Simplify Their Complexity

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Trust has always been the cornerstone in any marketplace, from Main Street to Wall Street and from the town hall to the state capitol. Coincidently, as I write this piece, my former Illinois Governor, Rod Blagojevich, was sentenced to 14-years in prison. “I’m incredibly sorry” he said. What does this have to do with annuities? Plenty. It’s been said trust is what we “sell” and our clients and prospects take action to implement our recommendations under an earned blanket of trust. … [Read more...]

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Is a Variable Annuity’s Guaranteed Minimum Withdrawal Benefit Right for Your Client’s Retirement Plan?

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You sell the product; clients buy it. You love the guarantees the product provides in the form of guaranteed minimum withdrawal benefits (GMWB); clients love the guarantee, too. But is it worth the risk? More importantly, is it worth the fee? After all, these guaranteed don’t come cheap: Annual expenses greater than 3 percent are the norm. You are paid handsomely for the sale. And the ongoing fee — if you take an annual fee — can be between 0.25 percent and 1.25 percent. This is all great … [Read more...]

Filed Under: Annuities, Featured Middle Left, Income Planning
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Specialize in Serving Seniors: The Most Lucrative Way to Grow Your Practice

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By holding your life and health insurance licenses, you have the ability — and the choice — to sell any number of a variety of insurance products, including life insurance, annuities, long-term care, Medicare supplements, travel medical insurance, disability insurance, etc. Personally, I’ve chosen to focus the last decade of my career on the sale of fixed annuities — a decision that's certainly served me well. In fact, I have grown our brokerage agency’s annuity division from $10 … [Read more...]

Filed Under: Annuities, Featured Slider, MedSupp/Advantage, Senior Products
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