
The Perfect Storm for a Tax Credit Longevity Annuity Plan
A Tax Credit Longevity Annuity Plan, or TCLAP, would create tax-favored private pension plans while also providing for long-term care benefits.
A Tax Credit Longevity Annuity Plan, or TCLAP, would create tax-favored private pension plans while also providing for long-term care benefits.
If you rely on life expectancy as the basis for all of your retirement planning decisions, there’s a 50% chance that you’re projected to outlive your assets.
I was recently asked by CNBC personal finance writer Tom Anderson, who was writing a story on qualified longevity annuity contracts, or QLACs, “What are the biggest mistakes clients make when buying QLACs?” My answer, which was quoted in Tom’s September 9th An Option for Those Who Fear Outliving Their Money article, was not purchasing a…
Since the Treasury and IRS finalized a regulation in the beginning of July blessing the use of qualified longevity annuity contracts, or “QLAC’s,” a lot of people have been wondering when and where they can buy one.
The most recent potential retirement income planning game-changer, qualified longevity annuity contracts, or “QLAC’s,” have received a fair amount of press since the Treasury and IRS finalized a regulation in the beginning of July blessing their use.
Although DIAs and FIAs with income riders may be purchased to provide what’s marketed as longevity insurance, this is only one application of both products.
Longevity insurance is one application of different types of fixed income annuity products offered by life insurance companies to meet income needs.
As with all retirement income planning goals, you need to work backwards from your target date, which would be the age at which you would like to retire.
A deferred income annuity (DIA), often referred to as longevity insurance, can be used to fund long-term care insurance (LTCI) premiums during retirement.
A deferred income annuity (DIA) can be used as part of the retirement planning process to fund long-term care insurance premiums.
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