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July 20, 2010
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Did You Know?    
 
 
Annuity tax-free exchanges, known as 1035 exchanges
Section 1035 of the U.S. tax code allows you to exchange an existing variable annuity contract for a new annuity contract without paying any tax on the income and investment gains in your current variable annuity account. These tax-free exchanges, known as 1035 exchanges, can be useful if another annuity has features that you prefer, such as a larger death benefit, different annuity payout options, or a wider selection of investment choices.

 


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Latest news about Annuity cases in Washington and nationwide:

Armed Services Committee Improves Veterans Survivor Benefit Plan
“Service members and survivors who signed up for the program will finally see some significant improvements to the SBP,” said Saxton. “We worked on...
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Department Confirms 1.4 percent Fixed Annuity Dividend for WRS Annuitants
MADISON -- Governor Doyle signed legislation today paving the way for the Department of Employee Trust Funds to pay a 1.4% fixed annuity dividend t...
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New Orleans Hospital Corporation Agrees To Guarantee Pensions

Christian Health Ministries in New Orleans, La., has reached a voluntary agreement with the U. S. Department of Labor to guarantee ...

Read more >


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Annuity Lawyers.com Terms

 


Today's Terms

Designation of Beneficiary

Definition:
Notice, signed by you and witnessed by two persons, indicating the person(s) you want to receive your life insurance benefits. The form generally used for life insurance designations is the Designation of Beneficiary form (SF 2823).

Conversion

Definition:
The exchange of group insurance for insurance under an individual policy purchased from a private insurance company approved by the Office of Personnel Management.

OFEGLI

Definition:
The Office of Federal Employees' Group Life Insurance, which makes payments to beneficiaries under the policy. OFEGLI is not a Federal agency. It is staffed by employees of the contracted life insurance carrier.

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Annuity Law Resources

 


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Annuity Law Hot Topics

 
Topics Related to Annuity:

  • Client Manipulation
  • Providing False Information
  • Lying to Auditors
  • Unauthorized Transactions
  • Breach of Fiduciary Duty
  • Broker Embezzlement

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