- 3,345
This is an extremely interesting thread. I can't contain myself. BPA, BAA, wow fun stuff.
AVIVA BAA to Replace BPA?
- Thread starter SmartMoney
- Start date
- 1,641
Why would they call it BAA? Sounds like a crappy S&P rating. Baah!
You must have your BPA contract in your IMO's hands by 4/15 and then get the money in by 5/17 if the BAA is all ready approved in your state.
As far as differences for the OP, the reset period is shorter (2 yrs not 4, 5, or 6 like old BPA). 5% free w/d in year 1, not 10%. The IAV being used as a death benefit is gone (ability for heirs to take IAV over 5 yrs). Also, the ability to "lock-in" is gone.
Hope this helps, I read it off an announcement from Aviva I received.
As far as differences for the OP, the reset period is shorter (2 yrs not 4, 5, or 6 like old BPA). 5% free w/d in year 1, not 10%. The IAV being used as a death benefit is gone (ability for heirs to take IAV over 5 yrs). Also, the ability to "lock-in" is gone.
Hope this helps, I read it off an announcement from Aviva I received.
