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Private Wealth Management: The Complete Reference for the Personal Financial Planner, Ninth Edition, 9th Edition by Jerry Rosenbloom, G. Victor Hallman

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17

Individual Investment Annuity Contracts

This chapter covers individual annuities sold to the public as investments. They have become a major financial product for many people. These contracts are called nonqualified annuities to contrast them with the qualified retirement plans provided by employers to their employees described in Chapter 13.

These nonqualified annuities, or as referred to in this chapter investment annuities, have become increasingly popular in recent years for persons planning for retirement. They offer income tax deferral during the annuity accumulation phase; a supplement to other forms of retirement income (particularly in view of the relative decline in defined benefit pension plans); a potentially enhanced yield on ...

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