Been hearing of folks using a particular very popular 10yr annuity as a spend down vehicle, since the 10% free withdrawal is based on initial premium, not contract value. The idea is to put the money into this annuity rather than keeping it in the bank (which obviously pays the agent rather handsomely), and basically liquidate it out over 10 years.
I see this as a huge suitability issue...I imagine though that they are not telling the insurance company on the suitability form that they plan to liquidate it over 10 years.
Maybe the carrier has factored this into their pricing... or may
Source of insurance-forums.net
I see this as a huge suitability issue...I imagine though that they are not telling the insurance company on the suitability form that they plan to liquidate it over 10 years.
Maybe the carrier has factored this into their pricing... or may
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