Date : March 11th, 2010Category : UncategorizedAuthor : Editor5 Comments
Product Description During your life, you’re likely to make important choices that will affect you for years to come: determining the best community, buying the perfect house, and starting a new family. Purchasing life insurance falls into the same category. But selecting the right policy isn’t easy, especially when you’re faced with a constant barrage of commercials and brochures from competing life insurance companies. With twenty years of experience in the life insurance business, Anthony Steuer delivers a practical, one-of-a-kind resource to guide you through the basics—and the finer points—of life insurance and to help you choose the policy that is just right for you and your family. Using a simple question-and-a… More >>
Or, should I buy an immediate annuity? Home value $200,000, mortgage free. CDs $150,000. Paid-up burial policy and $5,000 life insurance policy. No debts except usual household expenses and home maintenance. Disabled son lives with me.
Date : March 9th, 2010Category : UncategorizedAuthor : Editor1 Comment
American Equity sells fixed annuities, Have they ever defaulted on paying there customers there monthly payments on fixed annuities or any other investment?
Date : March 8th, 2010Category : UncategorizedAuthor : Editor1 Comment
1)Does a criminal background stop you from being able to get a license (and by criminal background I mean: I was 18, got in a fight had guilt (adjudication) withheld on a 3rd or 1st (whichever is the least bad) felony. So technically, no guilt.
2)I checked the South and North Carolina requirements and it almost made it seem as if you had to have a degree just to get a license. Is this correct?
3)What is the best way to go about opening your own business selling insurance (instead of working for one company – being contracted through more than one to offer clients flexibility).
A change in the federal tax code has left a wake of confusion among retirees aged 70 and ½ who must make annual withdrawals from their IRAs, 401K, or similar plans. The change was meant to help retired persons whose life savings sustained a hit from the precipitous decline of the stock markets.
It is not uncommon for retirement savings maintained in 401K, IRA or other qualified plans to have lost 40% or more. For many people, this means that retirement planning falls far short of expectations they had when the plans were initiated.
With the precipitous decline in mutual fund stocks, one million dollars previously saved for retirement could have shrunk to $600,000 or less. For those less fortunate or less savings minded, a $100,000 dollar IRA retirement account invested in a mutual fund might have shrunk to $60,000 or $70,000 dollars. In the latter case, a person withdrawing an annual amount of $10,000 would deplete all savings within six or seven years, as opposed to ten years.
The Wall Street Journal reported February 17 that the Dow Jones Industrial Average fell to within 65 points of its November 2008 lows. At those levels of fund performance, retirees are right to worry that their nest eggs won’t provide the anticipated retirement income.
As the result of the steep decline in retirement savings, the Internal Revenue Service granted an exemption from required IRA withdrawals in 2009. The presumption is that mutual and index funds will bounce back and extend the length of time that retirees might have to continue receiving periodic payments from their retirement plans. The owners of retirement accounts have the option of returning part or all of those disbursements, and they may direct the custodian to send another smaller periodic payment in lieu of the original amount. Mandatory withdrawals apply only to those who have attained the age of 70 and ½.
For many retirees, existing plan withdrawal rates mean that, in 2009, they have already received more from their retirement accounts than a more prudent withdrawal plan would dictate. The IRS solution allows re-deposit of disbursements without penalty within a 60 day period.
However, a problem has arisen among some custodians of such funds who have been blindsided by the new legislation and are unsure how to proceed. Many fund administrators report that they have not received enough guidance from the Internal Revenue Service.
Insurance companies responsible for annuity payments are also perplexed. Some insurance companies who pay out annuities are struggling under the weight of telephone calls from anxious clients, some of whom have become only recently aware of the rule change. While some fiduciary custodians have informed their clients of the changes and sent out letters providing guidance, others have not been as responsive to customer needs as they might be.
In spite of any confusion or lack of readiness for the changes, retirees should focus upon the certainties. The new law applies to almost all defined-contribution employer plans, including inherited, traditional, and Roth IRAs.
Retirees should be mindful of the “60-day rule.” If the retiree wants to take advantage of the law change and revert all or part of the withdrawals back to their account, they can simply write a check to the custodian of the funds in the amount which was disbursed. The retiree is allowed to do this just once in a twelve-month period for each account from which payments are received. Miss the deadline and the taxpayer is liable for income taxes due on the traditional IRA disbursements.
Workplace 401K plan custodians are often hesitant to make changes because of documentation already submitted to the government. In such cases, plan custodians fear that they may be found in violation of existing rules. The retiree should put their withdrawal requests in writing, keep copies of it, and send their requests to the account custodians. Without the retiree’s directive, custodians are pretty much free to do whatever they want in disbursement of the funds.
The new law is set to expire at the end of 2009, so it is important to consider 2010 when contacting the plan custodian. Must the retiree put into writing their requests for 2010 withdrawal amounts? That’s something to inquire of the plan custodian, too. Even so, some retirees may be frustrated enough to convert their conventional IRAs into Roth IRAs, a legitimate maneuver which will require the payment of federal income taxes based on the rollover amount. The advantage of rolling the funds into a Roth IRA, of course, is that future disbursements will no longer be taxable, nor would there be required distributions from the retirement account.
…by buying this annuity, your agent promises that you will recieve payments of $384.40 a month for the next 40 years. what is the annual rate of return on this investment?
Can someone explain the process please? Getting a State License is the first and easy part (I already have my FL Health, Life and V. Annuity License.), but what are the steps after that? I am looking to become a broker (not a Captive agent). I already have a business storefront.
How do I get Insurance carriers such as Allstate, Nationwide, Progressive, Mercury and other hundreds… to give me their quoting and service support? What’s the monitory commitment? What are their requirements?
What are the advantages/disadvantages of buying a franchise rather than going at it alone?
Any help is appreciated.
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