Re: Annuities...are they a crap shoot?

On Tue, 8 Apr 2008 10:37:53 -0500, kastnna <kastnna@[EMAIL PROTECTED]
>
wrote:


>> Can you say what happens, generally speaking, to the annuity
>> when the client dies?
>
>However, one can have an annuity, and withdraw income
>from it, without "annuitizing" the contract (I've always hated the
>counterintuitiveness of that). In that instance (which has been the
>far more likely case thus far) the beneficiaries receive one of two
>figures: the greater of the contracts actual cash value OR the GMIB
>base. 

Assume the same answer applies if the owner/annuitant never started
any kind of withdrawals from the non-qualified annuity.  Yes?

Are the beneficiaries limited to a lump-sum taxable payout or can they
elect a lifetime payout over their life expectancy (paying taxes only
on the amount received each year)?


-HW "Skip" Weldon
 Columbia, SC

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