VA for non-profits

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Feb 25, 2010 6:19 am

Anyone here placed a VA with a non-profit organization as owner and a board member as annuitant?  I'm curious about this concept.  The VA guarantees income for the organization as well as a death benefit (i.e. return of principal).  I think Jackson has this product with their Lifeguard Freedom 6 DB GMWB rider.

I know other VA firms won't allow this because of the non-tax advantages for the non-profit in a VA, but they do let IRA's and other qualified plans in.