JeffRome2023
New Member
- 10
Does my wife receive the money back? Thanks!
If I get a deferred annuity with QLAC and I die before it starts to pay out?
- Thread starter JeffRome2023
- Start date
As long as you set it up that way she will.
- 4,886
Depends. If you add return of premium to your contract, your beneficiaries should receive what you originally invested in the QLAC.
However, depending on whether you die before or after your Required Beginning Date (when RMDs must start at latest like 72 or 75), your beneficiaries may be able to roll over the return of premium or they may have to receive of as a lump sum taxable.
Very few QLAC have been issued as the demand has not built up to date, so not a kot of expertise is out there with reps who have actually sold a QLAC. I have never sold any, so my limited knowledge on thd subject is merely from books & magazines, etc.
Good idea to make sure a carrier offers a joint life option based on both you & wife, otherwise she may never receive anything more tham your original deposit which coukd have been decades prior
However, depending on whether you die before or after your Required Beginning Date (when RMDs must start at latest like 72 or 75), your beneficiaries may be able to roll over the return of premium or they may have to receive of as a lump sum taxable.
Very few QLAC have been issued as the demand has not built up to date, so not a kot of expertise is out there with reps who have actually sold a QLAC. I have never sold any, so my limited knowledge on thd subject is merely from books & magazines, etc.
Good idea to make sure a carrier offers a joint life option based on both you & wife, otherwise she may never receive anything more tham your original deposit which coukd have been decades prior
