Your “Value Added” Annuity Marketing Organization www.gsladvisory.com Motion graphics by Phillip Hudson www.philliphudson.com

Variable Annuities

Variable Annuities will provide an overview of all the relevant aspects of Variable Annuities (VA) products from an insurers perspective. It will be a collection of contributions from several authors, co-ordinated in such a way that it covers all relevant areas with minimal overlap and a consistent level of detail. The market is of huge interest for US, European and Japanese insurers. For several hundred years, the insurance industry has offered a tremendous variety of life insurance products. Some of these life insurance products are aimed at providing investment possibilities, such as with-profits endowments and annuity products. These products typically provide substantial investment guarantees, which is one of their main advantages, along with tax privileges and the fact that the assets are managed prudently. The success of these products can be traced back to the fact that together with the distribution model, directly approaching potential customers, these products are idea

Rating: (out of reviews)

List Price: $ 284.00

Price: $ 284.00

Question by Command003: If you bought an annuity for 100K and decided to close it are their tax consequences?
Interest was recieved monthly and claimed on taxes. The value of the annuity is less then what they purchased it for.

Best answer:

Answer by Michael R
If you paid all your income taxes on the interest then all your interest is not taxable when you with drawl, thanks to the no double taxation laws.

Assuming you do not owe taxes on the principal amount before you put the funds into the annuity then you will not owe any when it comes out.

Give your answer to this question below!

Related posts:

1. What an annuity is and how it works?
2. What will the financial crisis do to my lifelong annuity?
3. Financial Planning: Annuities : How a Tax-sheltered Annuity Plan Works
4. What are the pros and cons of a variable annuity?
5. Financial Planning: Annuities : What Is Fixed Annuity?
6. Thestreet.Com Ratings Guide to Life and Annuity Insurers – Q
7. Are Equity-Indexed Annuities Right For You?
8. The NAIC stands firm in protecting life insurance and annuity owners.
9. Annuity Selling Tip #1
10. Types of Annuity & Life Insurance contracts