The American Pathway® Deferred Income Annuity (DIA) is now available today as a Qualified Longevity Annuity Contract (QLAC.)
Under recent IRS regulations, DIA’s can be purchased with IRA funds and defer distributions well beyond 70 1/2. If the DIA is also a QLAC, the required minimum distribution (RMD) requirement on those IRA funds will be postponed until the QLAC is incomitized. Smaller RMDs may mean lower taxable income.
IRA owners have the option today to buy higher amounts of guaranteed lifetime income (joint payouts and COLA payouts available too) and reduce their RMD distributions in the meantime. The result is your clients will be able to postpone taking part of their RMDs until an advanced age … 80 or 85.The DIA lets a client purchase a higher income than otherwise, because they earn longevity credits with their interest credits.
Listen to our webinar discussion on the benefits of a QLAC and how American Pathway Deferred Income Annuity as a QLAC may be a good option for your clients.
For more information on this QLAC DIA or a copy of the presentation, please contact your CreativeOne sales team at 800.992.2642.