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Client question - VA Related

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Aug 9, 2010 3:32 pm
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 situation...

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...

With all the VA choices I have now I'm looking for a little direction in regards to companies, specific annuities, etc...  Thanks.
Aug 12, 2010 2:00 pm

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.