Client question - VA Related
I've recently moved from a captive insurance company (mutual) and we
were restricted to doing our own VA's - now I'm independent and have a
client who is wanting a VA (they like the protection) - here is their
Both 62 - have a LTC contract that is roughly $4k a
year and they want to invest in a VA and withdraw the $4k a year to
cover their LTC premium....
They have approximately $170,000 in non-qualified money and another $150,000 in qualified funds...
all the VA choices I have now I'm looking for a little direction in
regards to companies, specific annuities, etc... Thanks.
What's their combined income annually? Do they want liquidity or no? Know what tax bracket they are in? I ask because there's nothing that says you have to use a VA. I know you want to collect the big commissions but if its appropriate, municipal bonds can do what your looking to do, but tax free using their nq funds.
If you have to use an annuity, try prudential's highest daily 6. Its a daily lock in product and comes in 0, 4, 7 and 9 year versions.