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Understanding the 1035 Exchange
 
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Dennis Postema presents "Understanding the 1035 Exchange", an explanation of what a 1035 is, how it works, and how valuable it can be to you and your family. TheRetirementInsitute.org Check out the blog here: http://theretirementinstitute.org/2015/10/01/understanding-the-1035-exchange
What is a 1035 Exchange?
 
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http://www.SaveIncFinancial.com (877) 576-0814 Get Whiteboard Animated Videos like this one for your business here: http://www.jilladdison.com/get-monthly-videos-for-a-low-monthly-rate A 1035 exchange is a provision in the tax code that allows you, as a policyholder, to transfer funds from a life insurance, endowment or annuity to a new policy, without having to pay taxes.The IRS allows holders of these types of contracts to do this in order to replace outdated contracts with new contracts that have improved benefits, lower fees and different investment options.A 1035 exchange is limited to the following situations: You can replace one annuity contract for another annuity contract that has identical annuitants; You can replace one life insurance policy for another life insurance policy, endowment policy or annuity contract; And you can replacing one endowment policy for an identical endowment policy or an annuity contract.The IRS has provided strict guidelines that the owner, insured and annuitant must be the same on the new contract as listed on the old in order to qualify for the tax-free treatment. The IRS has ruled in several previous cases that if an owner cashes out of a current contract and immediately applies the proceeds to a new contract it will not be treated as a tax-free event or Section 1035 Exchange. The funds must pass directly from one insurance company to the other.Contact us today to make sure you take advantage of this tax strategy correctly. http://youtu.be/t8FrjGga62U
Views: 1083 RetirementPlanning
Life Insurance Policy Exchanges - 1035 Exchanging Essentials
 
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EduTrainer Steve Savant coaches you through the different tax-free 1035 policy exchange options. Edutrainment Workshops: The Essentials for Life Insurance - 1035 Exchanges Life policies must be on the life of same person. Annuity contracts must be payable to the same person(s). When contracts are assignable, there should be a direct transfer of funds between insurance companies. The cost basis of the old policy (including certain riders and/or rating) is carried over to the new policy. If cash or other property is part of the exchange, any gain will be recognized up to that amount. A permanent policy with an outstanding loan can be exchanged for another similar policy with the same indebtedness. If the indebtedness is reduced in the exchange, there will be income tax consequences. If there is a recognized gain, it is ordinary income. Life Insurance Basic Entry Manual: Order- [email protected] Download Lincoln Benefit Life's user friendly proposal software and follow Steve Savant as he teaches the basic concepts of life insurance at www.lblsales.com/etw EduTrainment workshops is sponsored by Lincoln Benefit Life, An Allstate Company
Views: 1640 BrokersAlliance
1035 Exchange Life Insurance to Annuity - What is a 1035 exchange Life Insurance to Annuity
 
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What are 1035 exchange life insurance to annuities – What is a 1035 exchange life insurance to annuity? 1-800-566-1002 http://www.RetireSharp.com . What are the best types of 1035 exchange life insurance to annuities and learn how you can avoid the most common mistakes that individuals have made when looking to do a 1035 exchange life insurance to annuity. 1035 Exchanges Explained An annuity policy that was appropriate for a purchaser at one point in time may not always be the best investment option at a later date. Financial situations change as investors age. In addition, annuity companies are continuously updating their products to meet changing market needs. As a result, an annuity may become outdated for the annuitant, or it may just be under-performing. At some point in time, an investor may find that he would like to exchange his annuity contract for a new one. If this is the case, there are some situations where the exchange could qualify for favorable tax treatment. A Section 1035 Exchange allows an investor to swap an existing annuity policy for a new one without tax consequences. The exchange must take place between two different insurance companies for it to qualify for the tax benefit. A person would want to use a 1035 exchange for the following reasons: o To avoid taxation on the gain in the original contract. o To preserve the adjusted basis, which is the sum of premiums paid minus the dividends received, in the original contract. For an exchange to qualify as a 1035 exchange, several guidelines must be met. The annuitant for the new contract must be the same as the one for the original contract. The actual exchange must happen directly between the two insurance companies. If the purchaser surrenders the old contract, receives a check, and then invests in a new contract, this exchange will not qualify as a 1035 Exchange. If these guidelines are not met, the exchanged will not be considered a 1035 exchange and the proceeds from the original contract will be taxed as ordinary income. Life insurance and endowment contracts, in addition to annuity contracts, are eligible for the favorable tax treatment. The types of the new and original contracts do not need to be the same. For example, a holder could have a life insurance contract that they would like to exchange for a new annuity contract. This exchange is allowed. However, an investor cannot exchange an original annuity contract for a new life insurance contract. There is also flexibility in the number of contracts that can be exchanged. Two or more original contracts can be exchanged for a new contract as long as the owner is the same on all of the original contracts. It is important to know that there are times when it might be better to surrender the original policy than to perform a 1035 Exchange. If there is no gain on the original contract, a 1035 Exchange would not offer an advantage unless the annuitant wanted to preserve the adjusted basis in the contract. A 1035 Exchange is a time consuming process and can take several months to complete. Some insurance companies offer incentives to switch between companies so it is important for the purchaser to consider all of his options in addition to his financial position when deciding whether to enact a 1035 Exchange. Feel free to subscribe to our YouTube channel and receive instant access on different retirement related topics. Thanks for watching! Related Search terms: 1035 exchange life insurance to annuity retirement 1035 exchange life insurance to annuity income 1035 exchange life insurance to annuity explained 1035 exchange life insurance to annuity reviews 1035 exchange life insurance to annuity review What is the best fixed 1035 exchange life insurance to annuity vs the top immediate income 1035 exchange life insurance to annuity https://www.youtube.com/watch?v=L_N2XU0n7Og
Views: 562 retiresharp
Carl Barnowski The Annuity Hack: The Cost of 1035 exchange
 
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Carl Barnowski The Annuity Hack discusses the true costs and specifics investors and annuity owners should pay attention to when they are thinking about exchanging one annuity for another. Often financial decisions are made when individuals are under stress or emotionally charged. Often annuity investors are upset about the experience they've had with their current contract and rush to rid themselves of it only to make another bad decision and locking themselves into another disaster. New annuity products come on line and sometimes it's appropriate to make an exchange for better performance, changing needs or because the contract owner finds out something that they were unaware of and want to avoid like forced annuitization. At the end of the day, a clear economic benefit must exist to consider going down this path and my advice is to get those benefits in writing like we do with my trademarked Annuity Report Card. Stay tuned for more annuity insider information. Carl Barnowski
Views: 100 Carl Barnowski
Finance: What is a 1035 Exchange?
 
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What is a 1035 exchange? And no, it's not when your divorced parents meet in a 7/11 parking lot at 10:35 to swap kid wrangling duty.
Views: 17 Shmoop
Infinite Banking: What is a 1035 Exchange?
 
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Do you have an existing policy that you want to use for Infinite Banking? Have you considered a 1035 exchange? It is super convenient to get Infinite Banking started. By rolling over an existing policy into a new policy designed for Infinite Banking, you're carrying over the cash value from your existing policy into your new policy without taxation. Check out the entire video fro more information. Don’t forget to SUBSCRIBE to this channel and LIKE this video. Stay informed, REGISTER for our Infinite Banking 101 webinars below: Infinite Banking 101 https://wealthnation.io/infinite-banking/ Do you want to BECOME OUR CLIENT and start banking for yourself? Apply today: https://wealthnation.io/become-a-client/ CONTACT US: [email protected] FOLLOW US: Facebook: https://www.facebook.com/WealthNation.io/ Instagram: https://www.instagram.com/wealthnation.io/ DISCLAIMER: Wealth Nation makes content available as a service to its customers and other visitors, to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.
Views: 87 Wealth Nation
What is not allowable in a 1035 exchange
 
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What is not allowable in a 1035 exchange - Find out more explanation for : 'What is not allowable in a 1035 exchange' only from this channel. Information Source: google
Views: 13 gorden terpal
What Is A 1035 Tax Free Exchange?
 
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http://www.theannuitythinktank.com What is a 1035 tax free exchange? What is an annuity 1035 exchange. How does an annuity 1305 tax free exchange work. Replacing an annuity using a 1035 tax free exchange.
Views: 7057 TheAnnuityThinkTank
An Upside-Down 1035 Exchange
 
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http://www.lifenetinsurance.com A 1035 exchange is where you take cash from one permanent policy and move it to another. An upside down 1035 exchange is a bit different! See for yourself! LifeNet Insurance Solutions 11505 Eastridge Drive NE #420 Redmond, WA 98053-5758 P: (800) 698-7033 F: (866) 250-3070 [email protected] Get Your FREE No-Obligation Instant Quote Today! http://www.lifenetinsurance.com/term-life-insurance-calculator/ Video Transcription: Hi. This is Lenny Robins, at LifeNet Insurance Solutions. Today, I'd like to talk about a 1035 Exchange. A 1035 is the IRS section which allows you to transfer part or all of the cash within a whole life policy into another life insurance policy without paying current income tax. Typically what you've been able to do is transfer that money into a universal policy with guaranteed premiums. Assuming your health is the same, you've been able to get either a lower premium or increase the face value of the policy. Today, there's another choice that you have. Many policies today are what are called a Term/UL policy. In other words, the policy acts like a term policy for 10, 15, 20, even 30 years in length, but converts to a universal policy after that. It's possible to move money from a whole life policy into a term policy with several carriers today, and that's something you've just not been able to do in the past. Remember, if you have a small whole life policy with cash value and you want to convert that into a term policy, you can do that today; haven't been able to do that in the past. This is Lenny Robins, from LifeNet Insurance Solutions. Thank you for watching.
What is a 1035 Exchange?
 
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http://www.advancedplanningfinancial.com (949) 474-8440 A 1035 exchange is a provision in the tax code that allows you, as a policyholder, to transfer funds from a life insurance, endowment or annuity to a new policy, without having to pay taxes. The IRS allows holders of these types of contracts to do this in order to replace outdated contracts with new contracts that have improved benefits, lower fees and different investment options. A 1035 exchange is limited to the following situations: You can replace one annuity contract for another annuity contract that has identical annuitants; you can replace one life insurance policy for another life insurance policy, endowment policy or annuity contract; and you can replace one endowment policy for an identical endowment policy or an annuity contract. The IRS has provided strict guidelines that the owner, insured and annuitant must be the same on the new contract as listed on the old in order to qualify for the tax-free treatment. The IRS has ruled in several previous cases that if an owner cashes out of a current contract and immediately applies the proceeds to a new contract it will not be treated as a tax-free event or Section 1035 Exchange. The funds must pass directly from one insurance company to the other. Contact us today to make sure you take advantage of this tax strategy correctly. https://youtu.be/1O3tmLnLjXM
Views: 46 Albert Aizin
1035 Exchange - Replacing an Annuity
 
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http://annuityguys.org/1035-exchange-replacing-an-annuity Keeping the taxman at bay may seem next to impossible these days, however with annuities the IRS/Congress blessed us with one strategy to maintain the tax-deferred status when we move from one annuity to another - the 1035 exchange. Watch as the Annuity Guys examine the proper use of a 1035 exchange. (Learn more, click our link above. Full article at http://annuityguys.org) Disclosure: Videos are educational and conceptual only and not a solicitation. They are not to be considered investment, insurance, tax or legal advice. It is recommended that you work with licensed professionals for individualized advice before making any important financial decisions. Annuities are not FDIC insured and their guarantees are based on the claims paying ability of the issuing insurance company. State Guarantee Associations, while offering specific protections, are not the same as FDIC insurance. Read more Annuity Guys disclosure at: http://annuityguys.org/about-us/site-terms-conditions-and-disclosure
Views: 822 Annuity Guys
What is a 1035 Exchange?
 
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http://www.nepwealth.com (781) 416-1700 A 1035 exchange is a provision in the tax code that allows you, as a policyholder, to transfer funds from a life insurance, endowment or annuity to a new policy, without having to pay taxes. The IRS allows holders of these types of contracts to do this in order to replace outdated contracts with new contracts that have improved benefits, lower fees and different investment options. A 1035 exchange is limited to the following situations: You can replace one annuity contract for another annuity contract that has identical annuitants. You can replace one life insurance policy for another life insurance policy, endowment policy or annuity contract. And you can replacing one endowment policy for an identical endowment policy or an annuity contract. The IRS has provided strict guidelines that the owner, insured and annuitant must be the same on the new contract as listed on the old in order to qualify for the tax-free treatment. The IRS has ruled in several previous cases that if an owner cashes out of a current contract and immediately applies the proceeds to a new contract it will not be treated as a tax-free event or Section 1035 Exchange. The funds must pass directly from one insurance company to the other. Contact us today to make sure you take advantage of this tax strategy correctly. https://www.youtube.com/watch?v=_QfdEFGHwtg&index=10&list=PLXNeyc8iY01xULA0dB__LNUoIEnV__dK0
1035 Exchange Opportunities by Claude Thau
 
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Target helps you surprise your clients with unexpected solutions using 1035 exchanges to avoid tax gains. Take a look at how easy it is to get started. More InSights: http://targetins.com/insights More about Target Insurance: https://targetins.com/
Can a Section 1035 exchange be done when the existing policy has a loan against it?
 
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http://advancedunderwriting.com/question-of-the-day-october-10/
Views: 48 Linas Sudzius
1035 Exchange -- More For Your Money
 
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http://www.lifenetinsurance.com/1035-exchange A tax free 1035 exchange can help you get the most for your money when it comes to permanent life insurance. Do you have a cash value policy? Let that cash work for you. Find out how. LifeNet Insurance Solutions 11505 Eastridge Drive NE #420 Redmond, WA 98053-5758 P: (800) 698-7033 F: (866) 250-3070 [email protected] Get Your FREE No-Obligation Instant Quote Today! http://www.lifenetinsurance.com/term-life-insurance-calculator/ Video Transcription: Hi. This is Terri Robbins, with LifeNet Insurance Solutions. Today, we're going to talk about 1035 Exchanges; this is a tax-free exchange of money from one insurance policy to another. Do you have a whole life policy, or a universal or variable life policy that has cash available in it? Did you know that most of the time, your beneficiaries will not receive this income? Instead, that cash will go to the insurance company and your beneficiary will only get the death benefit when you pass away. If you borrow from the cash value, your beneficiary will get the face value, minus the amount of the loan when you pass away. This money's sitting there not doing you a whole lot of good, but it's certainly helping the insurance company. We can help you change that. 1035 Exchange allows you to take money from one policy and put it into a new policy of a similar kind. The policy we generally use is a guaranteed- premium universal life insurance policy. Unlike a whole life insurance policy, it is guaranteed that the premium will remain the same for the entire life of the policy. That's a great benefit. Additionally, this policy does not build cash value, or it's not set up to build a cash value. We can take the money from your old policy, put it into this one and pay down the insurance cost, and thereby, assuming that you are insurable at the current time, we can get you either the same, about the same premium and have more coverage, or lower your premium and have the same coverage. You may be able to keep some of the cash; it just really depends on your situation.
1035 Exchange for Life Insurance and Annuities [Top Advantages and Benefits]
 
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We all upgrade our cars and our phones as our needs and products change. How does our need to upgrade relate to life insurance and annuity products? Today's short video takes a look at the useful tax benefit of the 1035 Exchange which allows you to exchange an existing life insurance policy, annuity or qualified account for a similar product type. For a comprehensive look at 1035 Exchanges, check out: https://www.insuranceandestates.com/1035-exchange-tax-benefits/ AND https://www.insuranceandestates.com/1035-exchange-life-insurance/ How would a 1035 exchange benefit you and why would you do it? Life changes continually…maybe you just had a baby, bought a new house, got promoted, paid off a mortgage or the kids left for college. These kinds of life changes an necessitate a need for upgrading coverage. Second, new features and benefits may create a benefit for upgrading. I&E, our first priority is to consider any existing life insurance or annuities when discussing your planning goals. If your current coverage or product appears outdated, the 1035 allows the upgrade and this means you aren't locked in to a bad plan or product. One way to benefit, as I mentioned in our previous video on policy and annuity reviews, is by taking advantage of new living benefits for disability or long term care. For more on living benefits and life insurance, visit: https://www.insuranceandestates.com/long-term-care-rider-vs-chronic-illness-rider/ Third, upgrading to a different product due to changing life circumstances can allow you to lock in market gains, perhaps by rolling an old 401(k) or IRA into a qualified annuity for retirement. Check out this post for more on rolling retirement accounts into qualified annuities: https://www.insuranceandestates.com/qualified-and-non-qualified-annuities-an-important-tax-difference/ You also may be able to use cash value in an existing product to obtain new benefits such as reducing premiums in a new product. There are few rules to be aware of and some additional questions to answer in order to determine if a 1035 Exchange can benefit you. What are you waiting, for connect with us today, like, subscribe and get notifications for future topics. Thanks for watching! I&E.com
Will a Section 1035 exchange of a life policy for a new one cause the new policy to be a MEC?
 
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http://advancedunderwriting.com/question-of-the-day-april-19-2/
Views: 76 Linas Sudzius
The Retirement Architect | What you need to know about a 1035 Exchange
 
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David Reyes, The Retirement Architect | August 10, 2014
Funeral Trust - "The 1035 Exchange Sale"
 
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Funeral Trust Sale
Views: 149 Michael O'Dell
Can a Section 1035 exchange solve a three year estate tax inclusion problem with life insurance?
 
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http://advancedunderwriting.com/ask-the-experts-april-14/
Views: 41 Linas Sudzius
Thrive U - Advanced 1035 Exchange Case Study
 
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Curtis delves into his advanced 1035 exchange ideas with an illuminating case study.
Views: 80 Curtis Cloke
Thrive U - Advanced 1035 Exchange Theory
 
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An explanation of Curtis's cutting-edge 1035 exchange ideas
Views: 93 Curtis Cloke
Knowing 1035 Exchange in Fayetteville TN
 
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http://www.yoursouthernheritage.com/what-is-a-1035-exchange/ A 1035 exchange provides a means for exchanging an annuity contract or life insurance policy without being treated as if it had been surrendered or sold. http://www.youtube.com/watch?v=Kc127Z11qhw For more financial information visit us @ http://www.yoursouthernheritage.com/
All About 1031 Tax Deferred Exchanges - Real Estate Investment Tips
 
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For an experienced SF Bay Area real estate agent visit http://iLiveInTheBayArea.com Like me on Facebook: http://fb.com/iLiveInTheBayArea Thumbs up, favorite, share, subscribe and make a comment! Most people are aware of the fact that when you sell a long term investment such as real estate or stocks, you have to pay taxes. And these taxes don't come cheap -- currently capital gains tax is 15%, and California has its own capital gains tax of 9.3%. To put this in perspective, if you bought a property for $500,000 and years down the line you sell the same property for $1M, on that $500k profit you have to pay $121,500...PLUS your cost recovery recapture...but did you know there's a way you can defer that and not even pay a SINGLE PENNY?? It's called a 1031 Tax Deferred exchange. A 1031 exchange is when you sell your property and buy another like-kind property within a certain time frame and follow specific rules. Now you have to note, that this is a *tax deferred* investment strategy. What that means is that you will just keep rolling over what you owe in taxes to some future date. If you ever decide to completely abandon investing in real estate altogether, you will have to pay it all back. The idea though is to continuously roll it over indefinitely until you pass away. The first step that needs to be taken when doing a 1031 exchange is the process of finding a good qualified intermediary, or QI. The QI is a company that will be the "middle man" throughout the 1031 exchange process. There are two key time frames you have to keep track of with a 1031 exchange. From the date you sell your property, you have 45 days to identify a new property or properties. The second is that you have 180 days to CLOSE on the new property you identified; again this starts from on the date you sell your property. These dates are non-negotiable. Within this 45 day period, you can choose up to 3 different options. The first and most common option is the "3 property rule". The rule is that you can identify a total of 3 properties at any price. A 1031 exchange works just like a regular sale, but with the qualified intermediary acting as the "go through" person. Throughout the process, you are not allowed to touch ANY funds. If you do decide to pull any funds out, it's considered "boot" and will become taxable the second it leaves the QI's control. By FAR the most common question I get is in regards to the "like-kind" statement. If someone sells an apartment, do they have to buy another apartment, or can they buy an industrial warehouse? The answer is YES. Like kind means real estate -- period. If you sell real estate -- be it an apartment complex, an office space or a piece of raw land -- you can buy other real estate. The second most common question I get...Can I 1031 exchange my primary residence?? Well...you don't need to! In section 1034 of the internal revenue code, you can sell your primary residence and not have to pay taxes for up to $250k if you're single or $500,000 if you're married. When it comes to the value of the new property or properties, the basic point is this. You have to put in equal or more money, and buy an equal or larger valued property. The loan amount is completely irrelevant so long as those two amounts are satisfied. Remember, 1031 exchanges might not be the best option for every single person, but it's usually the most preferred option for most investors. If you're looking to avoid paying capital gains tax, the 1031 exchange is by far the most common financial technique...now that's good to know. Contact Davide Pio Today | SF Bay Area Real Estate http://iLiveInTheBayArea.com | 510-815-2000
1031 AND 1035 LIKE KIND EXCHANGES
 
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With constant revisions to information reporting rules and regulations, it is crucial to remain up-to- date with the current laws to avoid those dreaded penalties. This is particularly true when it comes to the intricacies of Internal Revenue Code Section 1031 and 1035 “like-kind” exchanges. For Full Webinar - http://auroratrainingadvantage.com/webinars/like-kind-exchanges1/ Follow Aurora Training Advantage on Twitter: https://twitter.com/AuroraAdvantage Like Aurora Training Advantage on Facebook: https://www.facebook.com/AuroraTrainingAdvantage Subscribe to our channel: https://www.youtube.com/channel/UC-hGKYcj4218a3WrH_ytf9g
Facts of Life Insurance - Internal 1035 Exchanges
 
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You don't ever change your mind, do you? You don't ever move? Your life is static, right? http://brevityassc.blogspot.com/2015/05/facts-of-life-insurance-internal-1035.html www.brevityus.com
Insurance Broker Discusses a Modified Endowment Contract of Life Insurance
 
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At MJB Financial Services, our financial advisers specialize in helping medical residents, physicians, and dentists obtain the insurance coverage they need to protect what they’ve worked so hard to build. (https://www.myincomeprotection.com)
1035 Exchange and “Live, Die, or Quit” Benefits on a Traditional LTCi Product
 
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Join us as we review one of the top LTC Solutions for your clients.
Views: 48 TheLevinson1
Can two single life policies be exchanged for survivorship coverage under Section 1035?
 
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http://advancedunderwriting.com/question-of-the-day-october-11/
Views: 21 Linas Sudzius
360 Group, 1035 exchange.MP4
 
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360 Group, Tax Free Retirement, 1035 Exchange
Views: 161 Gefory Woodruff
1035 Tax Free Exchange.flv
 
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Understand industry terms.
Views: 31 Brent Meyer
1031 Exchange Tax Free Real Estate Investing
 
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https://www.freedommentor.com/1031-exchange/ Discover the power of the 1031 exchange and how your real estate investing profits can be tax free gains.
Views: 59719 Phil Pustejovsky
Like-Kind Exchanges
 
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This video discusses the tax consequences of like-kind exchanges under Section 1031 of the Internal Revenue Code.
What factors are critical to consider when exchanging one annuity for another?
 
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We look at the viability of making a 1035 exchange to a newer annuity product. We learn that the advisor needs to be wary about surrender charges, giving up higher guaranteed interest rates and/or other contract provisions that cannot be duplicated today.
Views: 29 NYLCRI
Selling annuity 1035
 
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Views: 3 video aaaaa
December 2014 LLIS Webinar: 1035 Exchanges How Reallocating Assets Can Improve Financial Security
 
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Presented by: Mark Maurer, CFP®, MBA, President and CEO Exchanging an existing life insurance policy or annuity can be a great tax-deferred option for your clients: * no taxes on gains * favorable tax treatment on cash values * cash values may result in a paid-up new policy or lower costs
Views: 4 LLIS
Exchange Your Annuity to Monument Advisor
 
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With penalties and added fees, many traditional variable annuities can drag down investment performance. Fortunately, you can perform a tax-free 1035 exchange to our low-cost Investment-Only Variable Annuity (IOVA), Monument Advisor. What a difference it can make to cut investment costs over twenty years of saving in a tax-deferred account.
Don't move that Annuity until you watch this Video!
 
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Do you know all of the rules (and how they can make or break you) of an annuity 1035 exchange and the replacement of annuities? Did you know that a 1035 exchange is only for non-qualified money (the opposite of qualified money such as non-taxed money like IRAs, 401ks, etc). If done incorrectly, this could cause a HUGE taxable event that you might not be prepared for. This video will show you the rules on moving non-qualified and qualified annuities into another annuity. Furthermore, If you have cash value life insurance or a non-qualified annuity, which means that it's not invested in an ERISA plan like an IRA, 401k or Keogh, and you want to transfer it, you must do so under a 1035 exchange. But, there are rules about what can be transferred where. In this video, Rob Brinkman explains the rules. To download Rob's full (and free) annuity reports right now, simply click the following link. http://annuity123_rob-brinkman.viprespond.com/
10-35 Exchange
 
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A 10-35 exchange permits a policy owner to transfer the cash value from one life insurance or annuity contract to another without income tax consequences.
Views: 340 myinsuranceneeds
How to Exchange Your Annuity
 
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R. Travis Terlau, CFP® discusses the process of exchanging annuities or life insurance products to help meet your present needs, while maintaining the tax deferral.
Life Insurance Policy and Annuity Reviews
 
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Did you know that one of the most common services we provide at Insurance and Estates are Policy Reviews? So what is a policy review? A policy review is simply a health check up on your policy. The first item to consider is whether your life insurance or annuity is performing according to expectations. This step may involve looking at a history of costs and average returns on cash value. If you're interested in how policies and annuities accrue cash value, check out these recent articles on various types of cash value life insurance and annuities. https://www.insuranceandestates.com/different-types-of-life-insurance-policies/ https://www.insuranceandestates.com/annuity/ Second, when a client initially purchases a policy, he or she generally has a goal in mind. Maybe the goal was income protection, Infinite Banking, or an annuity to provide retirement income. But as the years pass, the goals may change. It is very common for clients to review their home and auto policies every year but go many years without reviewing their life or annuity policy. For more on using life insurance for infinite banking OR retirement, check out: https://www.insuranceandestates.com/pros-and-cons-of-the-infinite-banking-concept/ https://www.insuranceandestates.com/lirp/ Here are a few more reasons why a policy or annuity review could be helpful: 1. Innovation within the Life Insurance and Annuity Marketplace – Very few people are still using rotary phones and setting their VCR to record a show. Smart phones and Streaming services have replaced old technology. The same holds true for Protection Products. Life Insurance and Annuities no longer just focus on death. New Innovation now allows protection products to offer living benefits as well ( LTC, Chronic Care, Critical Care riders). For more on living benefits and life insurance riders, visit: https://www.insuranceandestates.com/life-insurance-riders/ 2. Locking in Market Gains – We are currently living in a robust bull market. Many clients have realized large gains with their Variable Life and Annuity policies. As tempting as it may be to stay in Variable products, most clients understand that a correction is coming. Now could be the time to lock in your gains, lower your fees and re-position into assets that allow for attractive returns while protecting your principle. For more on fixed indexed life insurance and annuity products, check out: https://www.insuranceandestates.com/fixed-index-annuity/ https://www.insuranceandestates.com/the-pros-and-cons-of-indexed-universal-life-insurance/ 3. Utilize Cash Value to Enhance a Policy – Many clients own policies that have accumulated cash value. Did you know you can exchange that cash value to a new policy and possible reduce your premium, increase your death benefit for the same premium or add living benefits to cover asset protection needs. This may be accomplished through what is known as a 1035 Exchange. For more about 1035 exchange basics, visit: https://www.insuranceandestates.com/1035-exchange-tax-benefits/ Policy reviews are vital to make sure your Protection Products are meeting your current goals. Connect with us to schedule your policy or annuity review today.
Annuity Withdrawals - Annuity Withdrawals Explained
 
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What are annuity withdrawals – What is the best age for annuity withdrawals? 1-800-566-1002 http://www.RetireSharp.com . What are the best types of annuity withdrawals for retirement and learn how you can avoid the most common mistakes that individuals have made when looking to take annuity withdrawals from their retirement accounts. Annuities - Taxation, Distribution & Exchanges An annuity can be thought of as a bucket. You place money into the annuity bucket and your bucket of money is treated differently than your other financial planning buckets. Annuities & Taxes · You give the insurance company your money (premium) for your annuity. If you already paid taxes on this money, you are making a contribution and will never be taxed again. · Once you place your money into one of the many types of annuities, your account value will continue to grow. Unlike a savings account, CD, or mutual fund your earnings will not be taxed at the end of the year. Annuity Distribution Eventually the IRS will at some point collect taxes on the earnings. · If and when you take a withdrawal from your annuity, you will have to pay taxes on the interest first. This is what we in the industry call Last In First Out (LIFO). 100% of your earnings are taxed at ordinary income tax rates instead of capital gains tax rates. · Taking money out of your annuity before 59 1/2 will subject you to an IRS penalty of 10%. Annuities are retirement vehicles and are treated the same as an IRA or other qualified tax plans. Most annuities allow for at least 10% account withdrawal every year so the annuity itself is very liquid. · There are no IRS penalties if the owner takes out distributions after attaining the age of 59 1/2 or after the death of the owner of the annuity policy. · No penalties if you are disabled · Structured settlement court agreements · Required Minimum Distribution (RMD) - Once the annuity owner turns 70 1/2 the government requires you to take a distribution from your annuity contract · IRA penalty- Failure to take your RMD at the end of the calendar year will result in an IRS penalty of up to 50% of the required distribution. Annuity Exchanges A 1035 exchange allows for the direct transfer of money from a non-qualified annuity or life insurance policy from one company to another without incurring and an IRS penalty. As long as the money goes from company to company there will be no taxes due. If you take possession of a check and it is made out to you, you could have some major taxes issues. It is always best to go from carrier to carrier. If you want to know more about annuities, then click on the link in the resource box below. Feel free to subscribe to our YouTube channel and receive instant access on different retirement related topics. Thanks for watching! Related Search terms: Annuity withdrawals for retirement Annuity withdrawals for income Annuity withdrawals explained Annuity withdrawals reviews Annuity withdrawals review What is the best fixed indexed annuity withdrawals vs the top immediate income annuity withdrawals for retirement income planning https://www.youtube.com/watch?v=i8ysT03P8Qc
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Why Annuities Should NEVER Be Held In A Non-IRA Account (2018)
 
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Annuities: Love 'em or hate 'em, I am not going to debate that here. But one thing I am going to rail against is having them in Non-IRA accounts. "Oh no! What's this guy saying???" I can hear my fellow financial planners utter in pure disbelief. "Doesn't he know you don't get double tax deferral by having annuities in an IRA???" My answer to this is simple. What happens when you want to move an annuity that is NOT in an IRA to another account? THINK about this, folks! You have an annuity that is NOT in an IRA and decide you want to move it someplace else. What are your options? Well, let me share with you an example I've seen a million times if I've seen it once. Guy puts $100k into a Variable Annuity in 2003. Now, it's 2018 and he looks at his year end statement and sees the annuity has grown to $180k. Yet, his other account in which he invested $100k into a plain vanilla mutual fund has grown to $375k over the same time, and this is AFTER paying a 3.5% front end commission! To say the least, he isn't happy. So, he wants to move the annuity to his mutual fund that has more than doubled the annuity performance. Guess what??? Unless he is willing to pay taxes on that $80k this year, he can not move the annuity to the mutual fund. The only way to move an annuity to any type of non-annuity account is to pay tax on whatever gain he has...ordinary income tax too mind you. Not capital gains! While the growth on the annuity doesn't seem like much compared to what he receive in the plain vanilla mutual fund account it's still sizeable enough that if he cashes it out, he will probably lose $20k in taxes in not more. Thus after tax the annuity only gave him a $60k or so gain, after 15 years! We're talking a 3.2% rate of return... that's nothing to write home about. Now he can do what's called a 1035 exchange into another annuity. That allows the gains to continue to be deferred. But the problem with 1035 exchanges is you can only move your annuity into another annuity. That's it. You can't 1035 exchange into a mutual fund, a cd at the bank, your checking account, anything. Only annuity to annuity in order to keep the tax deferral. Now, before we go any deeper we need to examine WHY the annuity underperformed as much as it did. Thankfully the answer is quite simple: FEES! Annuities have fees on top of fees. I typed in "Variable Annuity Prospectus" in Google and the first answer that came up was the Transamerica annuity I examine in the video. This charges Mortality and Expense fee of 1.00% or 1.35% depending on the bells and whistles you choose. They also have a .30% for something I can't even explain. Plus the funds they use are going to have fees, typically around .90% to 1.1.0% or so. Plus there is usually an annual account fee and who knows what else. All these fees do in the aggregate is limit your growth. If the market gives you a GROSS 7% and you're paying 3% a year fees, you're only going to net 4% a year. There really is no other way to look at it. Yes, the annuity provides a benefit that the mutual fund account does not. But I examine A. the cost of that benefit B. the likelihood you'll end up using it. No matter how you slice it, the annuity is loaded up with fees, which hurt growth. And when it comes time that you want to move the annuity, the limited growth it did provide will still be a thorn in your side, because if you do move the annuity, you will pay tax. All at once. All at Ordinary Income rates. Which is why if you are going to have an annuity, it should be held IN AN IRA! Because if it's in an IRA you can move it to ANY type of investment that your IRA provider allows you to hold, without an immediate tax.
Annuity Exchanges - Maryland Annuity Resource
 
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Annuity Exchange explained by Maryland Annuity Resource. We are your source for Annuities, Retirement, and Income for Life. We offer Annuity Exchange services for all of Maryland, Washington D.C., and Virginia. Exchange your Annuity utilizing the IRS 1035 Exchange provision. For more information click here.http://marylandannuityresource.com/services/annuities/annuity-exchanges/

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