Annuity Companies That Accept Inherited IRAs

Jul 27, 2019

  1. TheAnnuityExpert
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    TheAnnuityExpert New Member

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    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
     
  2. Allen Trent
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    Allen Trent Guru

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    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
     
  3. KRobby
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    KRobby Guru

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    Because they want their tax money, or is there another reason?
     
    KRobby, Jul 27, 2019
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  4. Allen Trent
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    Allen Trent Guru

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    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
     
  5. TheAnnuityExpert
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  6. DHK
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    DHK Guru

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    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).
     
    DHK, Jul 27, 2019
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  7. TheAnnuityExpert
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    And until that specific day happens, agents still need a reference hence the list.
     
  8. KRobby
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    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.
     
    KRobby, Jul 27, 2019
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  9. Tahoe Ray
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    Tahoe Ray Guru

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    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.
     
  10. Allen Trent
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    Allen Trent Guru

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    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
     
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