Taxes

Pros and Cons of Surrendering an Annuity

The Indy Star has published a good article on the pros and cons of surrendering an annuity . Some high level considerations include: Fees and expenses Taxes due on capital gains Loss of death benefit Loss of tax deferred gains Source: Indy Star Full Story

Glossary:

Annuity

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Taxes and Annuities

A good, straightforward article on how annuities are taxed from Kiplinger Contributing Editor Kimberly Lankford. There is discussion of tax implications of using qualified funds (i.e. funds from an IRA or 401k ) to purchase an annuity versus non-qualified funds. Also basic discussion of how different types of annuities such as deferrerd and immediate are taxed. 1035 exchange tax issues are also addressed. Source: Kiplinger Full Story

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Lafayette Life

Short Company Name:

Lafayette Life

Long Company Name:

The Lafayette Life Insurance Company

Lafayette Life provides life insurance and annuity products to individuals and small businesses through multiple distribution channels. The individual product portfolio includes whole life, senior age whole life, term life, universal life, immediate annuities, and indexed universal life and annuities.

Lafayette Life Insurance specializes in fixed annuities where interest is credited on a regular basis and funds may be available at any time. Clients may be subject to possible withdrawal charges, income taxes and penalties. The plans include:

Company Type:

Insurance Company

Web Site:

www.llic.com

Address

City:

Lafayette

State:

ZIP Code:

47903

Country:

USA