Cost to fund a lifetime income annuity of $40,000 per year PLUMMETS. Ages 55,60,65,70,75 with refund
Cost to fund SPIAs plummets! Huge pricing adjustments!
How much would it cost to fund a lifetime income for $3,333.34 every month. $40,000 per year with 100% of initial premium deposit guaranteed to be returned in the event of early death.
See samples for males and females ages 55, 60, 65, 70 and 75. The income starts 1 month after the company receives the money.
2022 pricing video - https://youtu.be/fSH6CyNBp0g
Life with installment refund guarantees for as long as alive. If death happens before the total payments equal the initial premium deposit, the company will continue to pay a beneficiary until the payments do equal the initial premium.
Basically, if the owners dies the insurance company does NOT keep any of the initial premium that may be remaining, it goes direct to the named beneficiary(ies).
Exclusion ratio on Non-Qualified funds only. Quoted exclusions assume 100% of the premium is cost basis, after tax funds. 1035 exchanges may have a lower cost basis. Traditional qualified funds such as IRAs will be 100% taxable in most cases.
Rates illustrated subject to and will change, as we can see from last years pricing. So these rates could go down or up based on the current rate environment.
Video quotes based on rates effective 08/16/2023. Most rate will be valid for 7 days after quoted. Pricing can vary by states with a premium tax.
#immediateannuities #SPIAquotes #insurance
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