THE ANNUITY LEGACY
Retirees, affluent and
non-affluent can now easily pass on assets from
annuities to their heirs - while also minimizing the
often significant impact of estate and income taxes -
thanks to a new solution called The Annuity Legacy.
It's an innovative combination of a single premium
immediate annuity and a universal life insurance policy
that helps individuals protect the financial futures of
their beneficiaries. Individuals and their financial
advisors will also appreciate the product's
comprehensive support services for easy, seamless
administration.
In most cases, a large
portion of these assets never make it to their intended
recipients, because the entire value of an annuity is
included in an individual's taxable estate, up to 49
percent of the assets can be eaten up by federal estate
taxes. Income taxes can take out another sizeable
portion. The Annuity Legacy can significantly minimize
these taxes, giving affluent individuals peace of mind
through a surprisingly hands-off investment and
insurance tool."
Under The Annuity Legacy,
an individual may annuitize an existing deferred annuity
or exchange it for a fixed-period single premium
immediate annuity (SPIA). The payouts from the SPIA are
then used to purchase and fund a universal life
insurance policy with secondary guarantees. The policy
is owned outside of the individual's estate and the
heirs receive the death benefits.
Income taxes are withheld
and life insurance premiums are paid automatically by
the insurance company, relieving individuals and their
financial advisors of those tasks. The Annuity Legacy
solution also offers easy access to information and
reports. Once issued, the client truly doesn't have to
touch paper again. The insurance company handle's the
payments, and the client is provided with ongoing, 24/7
information through the web.
For a
free customized quote
click here
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