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Annuity for heirs - keep it or cash out?SummaryIn this 0:53 Annuities Explained YouTube Short, Jeffrey Scott McLeod, LUTC, covers “Annuity for heirs - keep it or cash out?.” Annuity for your heirs, keep it or cash out. Did you know that you can control from the grave how your dollars are paid out to your beneficiaries? Because that's the definition of the word annuity. This is the perfect thing to leave for your grandchildren Insurance education only—not securities advice. Key takeaways
From the NAIC Buyer’s GuideYou usually have to pay a surrender or withdrawal charge if you take some or all of your money out of a deferred annuity during a stated period. Some contracts allow a limited free withdrawal each year (for example, 10% or less of account value). Fees, surrender charges, and any market value adjustment can reduce what you receive. Read the contract for how charges work in your state. When you start income, annuity payout options can include payments for life, for a period certain, or combinations described in the contract. The 2022 guide lists payout options and questions to ask before you buy. Source: NAIC Buyer’s Guide for Deferred Annuities (2022). The guide does not endorse any company or policy. For your state insurance department, see www.naic.org. Questions about fixed index annuities? Call or text 501-658-9882 · Book a time on the calendar Insurance-only disclaimer Jeffrey Scott McLeod, LUTC, is a licensed insurance producer. Content on this page is educational and discusses insurance products only—not securities, brokerage, or investment advisory services. Texas license 901162. Arkansas / National Producer Number 558629. Product availability, rates, and features vary by state and insurer. Read the NAIC Buyer’s Guide and the insurance contract before you buy. More videos |
Jeffrey Scott McLeod, LUTC — Licensed insurance producer. Texas license 901162. Arkansas / National Producer Number 558629. Insurance products only; not securities or investment advisory services.
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