Annuities For Seniors

Rubio And Nelson Propose `simple’ IRS Form For Seniors
By William E. Gibson, Washington Bureau WASHINGTON – Hoping to make tax filing a little easier for their senior-citizen constituents back in Florida, U.S. Senators Bill Nelson and Marco Rubio introduced the bipartisan “Seniors’ Tax Simplification Act” on Tuesday to try to streamline the process. The bill would make it easier to account for income from Social [] ... Read News

Annuity Class Action Litigation—Trends And Strategies For ...
Indexed annuities to seniors under circumstances in which other investments would have been more appropriate. The plaintiff asserted that defendants violated RICO, California’s “elder abuse” statute, and California’s consumer protection law. ... Document Viewer

Life Products - Insurance Industry - Resources For Insurance ...
Life Insurance and Annuities; Life Products. Seniors Benefit from Critical Illness Coverage. Women are Not Buying Enough Life Insurance. Article on Women and Life Insurance Sales. Apply now to guide this site. Discuss in our forum. Explore Insurance. ... Read Article

National Academy Of Elder Law Attorneys (NAELA) Celebrates 15th Annual National Consumer Protection Week
Attorneys educate elderly and individuals with special needs on fraud and other forms of financial abuse.Washington, DC (PRWEB) March 04, 2013 The National Academy of Elder Law Attorneys (NAELA) proudly joins government agencies, advocacy organizations, and private sector groups nationwide to celebrate National Consumer Protection Week (NCPW), March 3-9, 2013. For the past 15 years, a broad ... Read News

Senior Protection In Annuity Transactions Regulation
To provide insurance products, including annuities. "Insurance producer" means a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, including annuities. "Recommendation" ... Fetch Doc

Broker-Dealer Supervision Of Variable Annuity Sales
Sale of Variable Annuities to Seniors A. Overview of Regulatory Concerns ... View Full Source

SOA 2012 Life & Annuity Symposium May 21-22, 2012 Moderator ...
Upscale Seniors • Annuities • Investments • Estate Planning • Wealth Transfer • Medicaid trusts • Ably served by traditional career agency system, independent brokers and financial planners All Companies Serving the Senior ... Read Document

News Release: State Orders Bankers Life To Change annuity ...
Seniors who were sold annuities that took most or all their money, leaving them unable to pay other expenses. The department’s order requires Bankers to review additional annuity sales, offer refunds to those for whom the ... Read Document

Ethics - The American College
Sales to Seniors Most concern centers around potentially unsuitable sales of variable annuities to seniors. In one of its alerts an example: “Sell Annuities to Seniors Who Don’t Have Money! Most Have Equity in their Homes. Help Your ... Access Full Source

ALI-ABA Conference On Life Insurance Company Products ...
When are annuities suitable investments for seniors ? Congress has a perspective; so do federal and state regulators. Plaintiffs lawyers have a perspective, as well as the media. Insurance companies and broker-dealers have a perspective. And ... Access Document

HOUSE OF REPRESENTATIVES STAFF ANALYSIS BILL #: HB 965 W/CS ...
Continues to grow, many will consider investing in annuities. Unsuitable sales to seniors may be curbed, possibly avoiding costly financial decision making by this vulnerable population. STORAGE NAME: h0965b.ps.doc PAGE: 4 ... Retrieve Document

Free Tax Help Offered To Qualifying Seniors
Alliance on Aging is providing free tax preparation for seniors on a first come, first served basis from 8:15 a.m. to 1 p.m. Wednesdays and Thursdays at the Oldemeyer Center, 986 Hilby Ave., Seaside. ... Read News

THE GROWING PROBLEM OF ELDER FINANCIAL ABUSE: HOW TO ...
Trusts and annuities to seniors by exaggerating both the disadvantages of the seniors’ current investments and the advantages of annuities. According to the Complaint, AIG knew or should have known that annuities are inappropriate investments for most individuals over age 65, the ... Read Here

524 West 57 Street - Breaking News Headlines: Business ...
For seniors’ tips on purchasing annuities and other information about this product and how it works, visit www.acli.com. Sincerely, Frank Keating David Woods President & Chief Executive Officer Chief ... Fetch Full Source

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Take advantage of seniors. II. FIXED, DEFERRED ANNUITIES WHAT ARE THEY? In a fixed, deferred annuity, a purchaser deposits premiums and receives a rate of return, the realization of which is deferred until the term of the annuity. ... Access Full Source

Department Of Insurance PRESS RELEASE Office Of The Director
To Annuities for Seniors”. The majority of ADOI annuity related complaints allege either that the selling agent mishandled or misrepresented the annuity product sold, or that the annuity was unsuitable for the applicant’s needs. ... Fetch This Document

Deceptive Sales Practices The Titles Of Our Articles About ...
Annuities to Seniors; The Minnesota Commissioner, American Investors Life, AmerUs Life, and the Selling of Unsuitable Annuities to Seniors..10 _____ December 2007..The Minnesota/Allianz Settlement about Sales of ... Access Doc

TITLE 365. INSURANCE DEPARTMENT CHAPTER 25. LICENSURE OF ...
Registered variable annuities or other registered products; (2) Immediate and deferred annuities. Immediate and deferred annuities that contain no nonguaranteed elements; (3) Annuities used to fund plans or arrangments (A) Annuities used to fund: ... Retrieve Here

CLASS ACTION ANNUITY LITIGATION N1
10509.8 Replacements of annuities to seniors Producer or insurer 65 years of age and older CO Ins. Reg. 4-1-3 Variable life Insurers and producers (8/06) insurance Ins ... Return Document

Obama And Annuities . . . The News Might Be Better Than You Think
• Seniors earning less than $50,000 would not pay income tax annuities so they can reduce their income below the $50,000 threshold. This way they could avoid paying income taxes until they have to take withdrawals on their annuities. ... Access This Document

Variable annuities And Sales Practices -- Lessons For Compliance
As more seniors invest in annuity products, member firms need to be more vigilant as to how these products are being sold by its representatives. Variable annuities and sales practices -- lessons for compliance Aug 12 2010 Martin Orbach Page 1 of 3 ... View Doc

Variable Annuities Seniors

INVESTOR ALERT: REGULATORS RELEASE UPDATED TOP 10 LIST OF ...
Variable annuities. The Top 10, ranked in order of prevalence and seriousness, are: 1. Ponzi Schemes 2. Senior Investment Fraud 3 education so seniors do not become victims at the hands of unscrupulous promoters. Older investors are ... Read Full Source

Bibliography - Life Insurance - Annuities
Variable Annuities Still Ripe for Being Lemons, Personal Finance, John F. Wasik, The Seattle Times, August 1 4, 2005 Guaranteed Living Benefits Help Spur VA Sales to Seniors, Hal Stucker, National Underwriter L&H, August 16, 1999 ... Doc Retrieval

Annuity Class Action Litigation—Trends And Strategies For ...
Variable annuities,” and (4) “the particular deferred variable annuity as a whole, the underlying subaccounts to which funds are allocated at the time of the purchase or indexed annuities to seniors under circumstances in which other investments would have ... Fetch Document

Tax-Sheltered Retirement Plans - Welcome To Utah State University
Www.insurance.utah.gov/Annuities_alert.htm Senior Citizens Should Be Aware Of Deceptive Sales Practices When Purchasing Annuities “Annuity sales to seniors have significantly and does not need to access their assets for at least five years Variable Annuities An investment in an ... Read Content

An Overview Of Equity-Indexed Annuities - Welcome To ...
Securities, that some equity-indexed annuities are suitable for seniors and that not all equity-indexed annuities have high surrender charges and pay exorbitant commissions. 5 Premium or bonus credits are a gimmick used to sell both variable annuities and equity-indexed annuities. ... Read Document

Financial Services Issues For Senior Citizens
Seniors should carefully consider the risk profiles of their investments as well. It is appropriate to seek proper diversification of risk, and Individuals selling variable annuities need to be properly licensed to sell these products. ... Content Retrieval

California Annuities 4 Hour CE Course
Variable Annuities LONG-TERM CARE INSURANCE RIDERS IN ANNUITIES..62 TWO TYPES OF LTC RIDERS California Enacts New Annuity Sales Protections for Seniors ..68 NEW ADVERTISING GUIDELINES ... Document Viewer

Department Of Insurance PRESS RELEASE Office Of The Director
Consumer Guide: Annuities for Seniors, as well as Annuity Buyers’ Guides: 602-364-2499 or 800-325-2548 (outside Phoenix) or www.id.state.az.us. Variable annuities involve a risk that the account value may decline if the underlying ... Access Full Source

CLASS ACTION ANNUITY LITIGATION N1
Similarly, all deferred variable annuities provide annuity tables which guarantee that, Insurers and producers 20-1243.04 Annuities to seniors AR § 20-2608; Ins. Reg. Variable life Insurers (8/06) 33 insurance Ins. Reg. 82; Bulletin Insurers and ... View Full Source

Variable Annuities Newsweek Article
My target: tax-deferred, variable annuities--a name that hints of probity, with a soupcon of tax savings on the side. What a laugh. It will cost you more in taxes and possibly risk your security, too. Seniors are their particular prey, ... Visit Document

That govern sales of annuities to seniors, requiring written disclosures that are meant to alert the potential purchaser to specific rights and variable annuities, such as tax-deferred growth, annuitization, or a death or living benefit; and ... View This Document

2004 Annuity Training Outline - California Department Of ...
Associated with annuities, especially as they affect seniors. z How annuities affect persons that are 60 years and older. indexed, and variable annuities III. Identify the parties to an annuity 7% A. Describe the rights and obligations of the annuity owner 1. ... Content Retrieval

Avoid Being Fooled By Deceptive Sales Practices Alert: High ...
When it comes to annuities, inappropriate sales practices can occur in many ways and come from a variety of sources. Here are a few † Variable Annuity: An annuity in which the insurance company invests your money, less any applicable charges, into a separate ... Get Doc

A Framework For Evaluating Variable Annuities With Lifetime ...
Seniors, have made variable annuities a hot button issue with regulators. However, the relatively recent introduction of so-called “living benefit” riders has added an intriguing new dimension to the debate, and has dramatically changed the variable annuity ... Retrieve Content

Legal Horizons, 2005, Vol. II - Life & Health
Variable annuities, a new wave of class action suits have recently been filed against insurance companies and brokerage firms over alleged seniors were targeted for sales of variable annuities that were often not suitable investments. ... Access Full Source

PROTECTING SENIOR INVESTORS: REPORT OF EXAMINATIONS OF ...
Hearing Panel November 9, 2005) (defendant allegedly made unsuitable sales of variable annuities to unsuspecting seniors resulting in a loss of approximately $375,000). 25. been created, and it appears that the investment adviser later completed the forms in order ... Return Doc

ANNUITY SUITABILITY WHY REGULATORS ARE CONCERNED
More than 50% of annuities to seniors age 65 and above, and 2 agents sold more than 90% to seniors, yet satisfies the requirements for the recommendation of variable annuities. ¾Commissioner may order the insurer, producer, and/or general ... Fetch Here

Jonathan G. Katz, Secretary Securities And Exchange Commission
Many of our members manufacture variable annuities distributed through affiliated and independent broker-dealers. including Individual Annuities: Tips for Seniors and a Variable Annuity Kit that covers fees, exchanges and buying tips, ... Retrieve Content

Are Equity Indexed Annuities Securities

Indexed Annuities On December 17, SEC Improves Protections for Seniors and Other Investors in Equity-Indexed Annuities (December 17, 2008). 2 Sean P. Carr, indexed annuities and certain other securities issued by the insurer that are registered under the Securities Act ... Read Document

Annuity Class Action Litigation—Trends And Strategies For ...
Rule 151(a), 17 C.F.R. §230.151A, would regulate equity indexed annuities as securities under the federal securities laws. This rule would greatly expand the SEC’s role in oversee-ing annuity transactions and the regulatory obligations of issuers. ... Access This Document

Equity-Indexed Annuities: Toxic Investments
Equity-Indexed Annuities: Toxic Investments © 2005, Securities Litigation and Consulting Group, Inc. SLCG Practice Notes are intended to deal briefly with ... Retrieve Full Source

An Overview Of Equity-Indexed Annuities - SLCG Securities ...
1 An Overview of Equity-Indexed Annuities Craig McCann, PhD and Dengpan Luo, PhD1 Equity-indexed annuities are complex investments sold by insurance companies that pay ... Read Content

SEC Regulation Of Indexed Annuities - Sullivan & Cromwell LLP
Classifying indexed annuities as securities subject to federal regulation rather than as insurance products subject to state regulation was a reasonable statutory interpretation. classified index annuities or equity-linked annuities). ... Get Document

An Economic Analysis Of Equity-Indexed Annuities
0 An Economic Analysis of Equity-Indexed Annuities September 10, 2008 Submitted to the North American Securities Administrators Association (NASAA) ... Fetch Doc

Suitability Developments In Annuity Sales In Texas
One court has ruled that equity-indexed annuities are not securities (Malone v. Addison Insurance Marketing, Inc., et al. 225 F. Supp. 743 (W.D.Ky 2002). Finally, equity-indexed annuities sold by a registered securities broker-dealer would still be subject to suitability evaluations under ... Get Doc

EVALUATING EQUITY INDEXED ANNUITIES - Financeware.com ...
EVALUATING EQUITY INDEXED ANNUITIES ered to be securities, the SEC and NASD have taken interest in the EIA and how it is marketed and this interest is likely to play a continuing role, affecting clients, advisors and insurance companies.4 ... Fetch Full Source

Annuities - The Colorado Bar
Annuities are securities regulated by the SEC. Equity-indexed annuities combine features of traditional insurance products (guaranteed minimum return) and traditional securities (return linked to equity markets). Depending on the mix of features, an equity-indexed ... Document Retrieval

Time Value Of Money - Wikipedia, The Free Encyclopedia
Rate of return, cost of equity, cost of debt or any number of other analogous concepts. The choice of the appropriate rate is critical to the exercise, For calculations involving annuities, or securities with an indefinitely long maturity, ... Read Article

News Bulletin September 3, 2008 SEC Regulation Of Indexed ...
Annuities? On June 26, 2008, the Securities and Exchange Commission (the “SEC”) Equity-indexed annuities guarantee a minimum interest rate, but that interest rate can increase based on the performance of the external equity reference or index. ... View Doc

Benefits Of Equity Indexed Annuities - Freedom Equity Group.com
Fixed indexed annuities are not registered securities or stock market investments and do not directly participate in any stock or equity investments. Benefits of Equity Indexed Annuities Author: Gregg Griffin Last modified by: Annie Branson Created Date: 11/17/2004 4:01:51 PM ... Get Document

SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 230 And 240 ...
Difference between these securities and indexed annuities is that – with few exceptions – indexed annuities historically have not been registered as securities. 23 NASD, Equity-Indexed Annuities, Notice to Members 05-50 (Aug. 2005), available at: ... Read More

BNA, INC. SECURITIES REGULATION & LAW - Sutherland
Annuities as securities subject to all provisions of the viding an exemption for equity indexed annuities from regulation as securities, as a preservation of state insur-ance treatment for indexed annuities, and as a nullifica- ... Access Document

By Email: Rule-comment@sec - North American Securities ...
Securities as equity-indexed annuities and aggressive anti-regulatory position taken by issuers has heretofore exempted equity-indexed annuities from effective securities regulation. B. Coverage Criterion ... Get Document

An Overview Of Equity-Indexed Annuities - Welcome To ...
An Overview of Equity-Indexed Annuities Craig McCann, PhD and Dengpan Luo, PhD1 Equity-indexed annuities are complex investments sold by insurance companies that pay securities, that some equity-indexed annuities are suitable for seniors and that not all ... View This Document

Uncertainty Reigns: The Status Of Indexed Universal Life ...
151A under the Securities Act of 1933, 1 a rule ad dressed at equity index annuities (EIAs), 2 the Securities and Exchange Commission (SEC) Future Securities Law Analysis of Indexed Universal Life Policies In discussing IUL policies , the Adopting Release ... Return Document

Fixed Index Annuities - Annuity Think Tank - About Annuities ...
The equity market participation rises, persons of equity-indexed annuities (EIAs) that are not registered under the federal securities laws Overwhelmingly, Americans moved their money to fixed income securities (bonds and annuities), and ... Access This Document

Annuities And The Securities And Exchange Commission Proposed ...
That would effectively reclassify equity indexed annuities as a security product in addition to being an insurance product. Annuities and the Securities and Exchange Commission Proposed Rule 151A Author: October 22, 2008 Subject: RS22974 ... Retrieve Document

AUGUST 2005 GUIDANCE SUGGESTED ROUTING - FINRA - Home Page
Equity-Indexed Annuities Member Responsibilities for Supervising Sales of Unregistered Equity-Indexed Annuities 6 Request for Comment on Equity-Indexed Products, Securities Act Release No. 7438; File No. S7-22-97 (August 20, 1997). At least one ... Fetch Full Source

SEC Final Rule: Indexed Annuities And Certain Other Insurance ...
Difference between these securities and indexed annuities is that – with few exceptions – Equity Indexed Annuities, ANNUITYADVANTAGE, available at: http://datafeeds.annuityratewatch.com/annuityadvantage/fixed-indexed-accounts.htm. ... Fetch Here

Surrender Penalties Annuities

Fixed Indexed Annuities: Disclosure And Other Fiduciary ...
Agent] encouraged investors to sell their securities and/or annuities and take surrender penalties in order to purchase equity index annuities (EIAs). [He] also stated that the bonus feature of the EIA ... Retrieve Here

When Purchasing Insurance And Annuities
This applies to all annuities and life, health, and Medicare Surrender penalties: The seller of the insurance product must clearly disclose and describe in the contract any surrender charges and other deductible fees. There may be substantial penalties for early surrender. ... Content Retrieval

Annuity Class Action Litigation—Trends And Strategies For ...
Indexed deferred annuities with a surrender charge period of one year or more. As part of this settlement, the company paid $250,000 to the state. disclose high surrender penalties and redundant tax benefits associated with variable annui- ... Fetch Full Source

Annuities For Seniors CU Edits
As surrender penalties. ; Compare similar products from several companies before you sign. ; Contact the Arizona Department of Annuities for Seniors Consumer Guide . Is an annuity right for you? To determine if a particular annuity ... Read Here

08-06 Annuities With Long Term Care Features
This bulletin is issued to clarify when individual and group annuities that contain a waiver of surrender The application of the waiver of surrender penalties is unrelated to the amount of charges incurred for long term care services; ... Read More

Variable Annuities
Annuities Variable Missouri Securities Division Office of the Secretary of State Investor Protection Hotline: 800-721-7996 missions, surrender costs, penalties and tax liabilities. Switching annuities frequently benefits the seller more than the investor. 8. ... Fetch Content

Annuity Surrender / WithdrawalContract Owner NameSelect ...
Surrender charges on RMDs taken from IRA annuities are waived only on the amount calculated for the individual annuity contract. If the estimated tax payments or pay tax penalties. ... Get Document

Annuity Withdrawal Service Form - AAA Life Insurance Company ...
Distributions from Annuities or IRAs which are payable upon demand. Restrictions: Withdrawals exceeding 10% may incur surrender penalties Required Minimum Distributions (RMDs): RMDs are not subject to the 10% free-out restriction ... Return Doc

Annuity Fees - Money Over 55 - Personal Finance For ...
Most fixed annuities don’t have fees that you see other than perhaps an annual policy fee (perhaps $25 - $50 per year), A surrender charge is a fee you incur when you sell, or cancel, certain types of investments or annuity policies. ... Read Article

IN THE SUPREME COURT OF THE STATE OF MONTANA
Johnson following claims that he was transferring his clients’ annuities without fully disclosing the penalties and financial consequences of the transfers. Johnson admitted to the surrender penalties an investor may incur also will vary. ... Doc Retrieval

The Fight Against Inappropriate Annuities For Seniors And How ...
Deferred annuities are "highly illiquid, highly expensive and very poorly performing," Friedman noted. A principal reason why the products are so inappropriate for older Americans is that heavy surrender penalties apply if the money is needed before the annuitization phase kicks in. ... Fetch Here

It's Your Money: Pros And Cons Of A Variable Annuity
A variable annuity is an investment contract with an insurance company where you invest money into your choice of a variety of sub-accounts. Sub-accounts are similar to mutual funds, where money from a large number of investors is pooled and invested in accordance with specific investment ... Read News

REQUEST FOR WITHDRAWAL OR SURRENDER FROM AN ANNUITY CONTRACT
C. F Full surrender (All loans on contract will be paid off prior to surrender.) Contract Owner Name (Required) SSN (Required) Under penalties of perjury, I declare that I have examined the tax withholding for state and federal purposes and to the best of my knowledge ... Doc Viewer

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Surrender penalties under these annuities can grow to over 40%. Two-tier annuities became the best selling vehicle for the nation s largest fixed , deferred annuity seller, Alliance Life Insurance Company of North America. III. ... Retrieve Here

WITHDRAWAL/SURRENDER REQUEST FORM - Great American Financial ...
Fax Number - 513-412-3766 Variable Annuities WITHDRAWAL/SURRENDER REQUEST FORM Name of Owner(s) (including Joint Owner, if applicable) You may also be subject to penalties under the estimated tax rules if your withholding and estimated tax payments, if any, are not adequate. ... Doc Viewer

Annuity Surrender / Withdrawal
Surrender charges on RMDs taken from IRA annuities are waived only on the amount calculated for the individual annuity contract. If the estimated tax payments or pay tax penalties. ... Access Content

INDEX Annuity Basics ANNUITIES Section 2
“premature distribution” penalty, unless the distribution meets certain exceptions - taxes or penalties Surrender Charges All index annuities charge a surrender penalty if the policy is cashed in prior to the end of the surrender period. ... Access Document

ANNUITIES Which Fixed Annuities Are Best For Renewal Rates?
ANNUITIES BY DANNY FISHER HERE SEEMS TO BE A LOT OF confusion about how different fixed annuities (FAs) a new set of surrender penalties, exactly the way bank CDs do. CD-type annuities may also be called multi-year guarantee (MYG) contracts. ... Return Doc

The Hidden Risks Of Annuities - Linscomb & Williams | Houston ...
Most variable annuities have surrender penalties in the early years if the client decides to invest elsewhere. The penalties for early surrender can be as high as 8% of the amount withdrawn and can last up to seven years. ... Read More

American National Insurance Company One Moody Plaza ...
Less any partial surrenders and applicable surrender penalties, plus accumulated interest. The account value of your annuity cannot go down. BENEFITS How do I get income When insurance companies issue annuities, they assume several risks. ... Retrieve Content

Annuity Withdrawal Or Surrender Request Fixed Annuities: IRA ...
Annuity Withdrawal or Surrender Request Fixed Annuities: IRA, SEP and Non-Qualified Mail To: Annuity Owner Information income tax and any estimated tax penalties that may be due when you file your federal income tax return. ... Get Doc

Annuities And Taxes - Insurance Industry - Resources For ...
Cashing Out an Annuity without Tax Penalties Deferred Annuities. These annuities must be held for a minimum time period called the Surrender period. Depending on the contract, individuals may have access to a small amount of the account value ... Read Article