The Pros and Cons of Annuities
4 hours Annuities, General Product Training
Robin Lee Walter, Sarah Kane
- IA Course No. 104678
The purpose of this class is to acquaint and review the concepts of annuities as used primarily in funding personal, non-tax qualified savings plans as well as when used inside of a form of qualified plan, such as an IRA.
We will review the different and most-popular types of annuities and define them: Fixed annuities, variable annuities and fixed equity-indexed annuities.
We will explain the different reasons why people choose to buy the different annuities and why they buy certain types over other ones.
We will learn about different taxations for qualified versus non-qualified annuities and what the primary uses are: Income, wealth accumulation, tax-deferral investment, supplemental income, long-term care funding or even income to either surviving spouse.
Lastly, we will learn about suitability requirements, which entail responsibilities on the part of the insurer as well as the producer and what these are for each.