IXRAYANNUITIESAs a tool for investment and financial security, the life insurance annuity hasbeen around for quite a long time. Annuities first started the ancient Roman Empire.They were a way for Roman citizens to receive a yearly payment for their lifetimes or forseveral years in exchange for a large upfront payment. Early roman annuities were oftengiven to Roman legionnaires as payment for years of faithful military service. (1) As timepassed, the modern life insurance annuity began to take shape.In medieval times, lifetime annuities bought with a single initial premiumbecame popular among nobles for funding the constant warfare that was a fact of lifethen. , records show that one of the most popular annuities of the medieval era wascalled the tontine. (2) In this annuity the participants purchased a share inan annuity pool, and then, in turn, received a lifetime annuity.The payments were divided among surviving participants of the initial annuity pool.Thus, as time passed, each participant would receive a larger payment. As theparticipants died off, ever increasing payments would be made to them.
The payments were divided among surviving participants of the initial annuity pool. Thus, atime passed, each participant would receive a larger payment. As the participants died off,ever increasing payments would be made to them. The sole remaining survivor would reapthebenefits of the remaining annuity principal. One of the oldest and longest lasting tontineswas the annuity called the State Tontine of 1693. It was started in the United Kingdom as away to payfor its many wars with France.The modern financial system started to develop. Dr. James Dodson of England formed theEquitable Life Assurance Society of London in 1756. This was one of the first companiesformed to offer a modern form of life insurance annuity. (3) Dodson founded this companyand the annuity that itoffered to provide a form of insurance to persons of all ages.The Equitable Life Assurance Society issued policies based on the assurance of fixed sumon the surviving policyholder’s beneficiaries lives. The company issued policies for any tefor which the policyholders wanted to purchase the life insurance annuity. Premiums ofthisannuity were governedby the age, lifestyle, and health of the policyholders seeking to enter into the annuity. Thesbasicrules laid down the foundation of a distinguished modern life insurance annuity companythat still
(1) Annuity.com(2) The Annuity Museum(3) The Early History of the Annuity by EdwinW. KopfCalrima Financial & Insurance AgencyRequest a quoteIRA research – http://www.irajedi.comEdwin W. Kopf, “The Early History of the Annuity,” Casualty ActuarialSocietyhttp://www.casact.org/pubs/proceed/proceed26/26225.pdf“The Glorious History of Annuities,” Annuity.comhttp://www.annuity.com/annuities/glorious-history-annuities“History of Annuities,” Annuity Museumhttp://www.immediateannuities.com/annuitymuseum/historyofannuities/“History of Annuities,” Save Wealth FinancialSources:
Would you like an annuity that tracks the performance of the stock market?Would you like an annuity that also helps to protect your principal when themarket declines? The fixed index or hybrid annuity could help you to coverboth of these objectives. This annuity has been called an equityindexed annuity, fixed index annuity, and a hybrid annuity.The hybrid annuity can offer:* Some market risk protection* Tax deferral* A minimum interest rate guarantee* Probate avoidance* And guaranteed minimum incomepayments for life.
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Annuities – how canone increase theoutput?How would you like to maximize annuity income? Thegoal here is to help: Maximize Annuity IncomeAlready have an annuity?If you already havean annuity we can help youunderstand what youhave. What are the features?How would the features benefityou?
ANNUITY BASICS educates you so you can make informeddecisionx. Generally, an annuity is tax deferred. The money inan annuity grows tax deferred like a retirement account. As with anIRA, (IndividualRetirement Arrangement – as named per IRSdocument 590) the money in an annuity is ear-markedfor use after age 59 ½.As such, annuities are not to be used without carefulconsideration. Points to consider are:* What are the surrender charges?* How long you must I hold the annuity to get full valueor principal back?* How will my annuity earn credits or interest?All of these points are covered on this web site.
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