Skip navigation

Trading mistakes

or Register to post new content in the forum



  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Feb 23, 2018 4:17 pm

I bought a Variable annuity for a client a few years ago. Both he and I were under the impression that there was a living benefit rider on it. (the one where you can withdraw 5% per year of the "income base") However, I looked and I never put a rider on it. There is no rider attached. He bought it three years ago, so there is still about a $ 5000 withdrawal penalty ( I was thinknig of 1035ing to another with a rider or even one with an upfront bonus to take out his penalty) I have not told him yet but am planning to. Ideas on a good way to handle this? Thanks.