I've got a client scenario that I need help with.
My client is 37 years old. Her husband passed away leaving her some insurance money. She wants to use some now, then again in 5 yrs and 10 yrs. (She'd like to get a monthly payment for her son's private schooling. He is only 4 yrs old.) Are there any products out there that would give her an income rider and let her start using it in 5 years? I'm not completely sure on the annuity rules and distributions under 59 1/2.
My IMO mentioned doing a 72t .... would that work?
Should I be looking at a life insurance product or an annuity? Al
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My client is 37 years old. Her husband passed away leaving her some insurance money. She wants to use some now, then again in 5 yrs and 10 yrs. (She'd like to get a monthly payment for her son's private schooling. He is only 4 yrs old.) Are there any products out there that would give her an income rider and let her start using it in 5 years? I'm not completely sure on the annuity rules and distributions under 59 1/2.
My IMO mentioned doing a 72t .... would that work?
Should I be looking at a life insurance product or an annuity? Al
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