Annuity Companies That Accept Inherited IRAs

[TheAnnuityExpert]

I'm putting together a directory of annuity companies and their products that will accept Inherited IRAs (with or without an income rider being added).

My FMO reps most of the major players, but there are other companies we do not, I'd like to add them as well.

I have a few listed so far. I'm still waiting for compliant approved verbiage from Athene and Lincoln.

Thanks!

Shawn

 

[Allen Trent]

I'm putting together a directory of annuity companies and their products that will accept Inherited IRAs (with or without an income rider being added).

My FMO reps most of the major players, but there are other companies we do not, I'd like to add them as well.

I have a few listed so far. I'm still waiting for compliant approved verbiage from Athene and Lincoln.

Thanks!

Shawn

I wouldnt waste your time right now on compiling a list. 99.9% chance inherited IRAs are going away & going away soon. Near unanimous currently in both House & Senate on retirement bills & both will have a huge impact or eliminate inherited IRAs all together. I would postpone the list compilation for 6 months to see the final regs. It could possibly be voted on in the next few months

 

[KRobby]

I wouldnt waste your time right now on compiling a list. 99.9% chance inherited IRAs are going away & going away soon. Near unanimous currently in both House & Senate on retirement bills & both will have a huge impact or eliminate inherited IRAs all together. I would postpone the list compilation for 6 months to see the final regs. It could possibly be voted on in the next few months

Because they want their tax money, or is there another reason?

 

[Allen Trent]

Because they want their tax money, or is there another reason?

Yup. They have figured out the inherited IRAs are mostly utilized by the affluent with the largest qualified balances that let the children or grandchildren stretch out over 30-60yrs. Proposals appear to be going to a 10 yr max stretch. Bill sticks it to aristocracy, helps your retirement savings

 

[TheAnnuityExpert]

Thanks for the insight for the long term. For the short term, here is the list of annuities that accept Inherited IRAs. I doubt Inherited IRAs are leaving in 2019.

 

[DHK]

Stretch IRAs (as we now know them) will be going away and Inherited IRAs will be requiring a 10-year total distribution schedule per the new Secure Act (if I remember correctly).

 

[TheAnnuityExpert]

Stretch IRAs (as we now know them) will be going away and Inherited IRAs will be requiring a 10-year total distribution schedule per the new Secure Act (if I remember correctly).

And until that specific day happens, agents still need a reference hence the list.

 

[KRobby]

Thanks for the insight for the long term. For the short term, here is the list of annuities that accept Inherited IRAs. I doubt Inherited IRAs are leaving in 2019.

Yeah I could have used this a year ago, when I didn't realize how difficult it would be. Every time I'd call a company with all the details they'd say oh yeah no problem, and several weeks later (after a submitted app) they'd say oh we can't do this.

 

[Tahoe Ray]

Every time I'd call a company with all the details they'd say oh yeah no problem, and several weeks later (after a submitted app) they'd say oh we can't do this.

Which is what happens with almost every carrier call with even a slight issue outside of check and app with 10% of assets going to the annuity.

 

[Allen Trent]

Now, the real question is if doing a rollover/transfer of an inherited IRA to a new Annuity IRA is a great move or not. If the existing plan is an Annuity & the carrier continued the higher guaranteed annuity interest rate forward to the beneficiary, they may be better off keeping it in the existing annuity. However, if the money is not in an existing annnuity inherited IRA or the existing inherited IRA annuity has dropped the crediting interest rate to the death claim interest rate in the contract, if any, then it may be worth looking into moving to a new inherited IRA annuity