Most Attractive DIA?

[wes75951]

I am 62, wife 54. I have ~190k in a non-qual. variable annuity that I want to 1035 exchange into a DIA. Expect to take income in ~5-yrs. on joint life. Suggestions?

 

[Tahoe Ray]

I am 62, wife 54. I have ~190k in a non-qual. variable annuity that I want to 1035 exchange into a DIA. Expect to take income in ~5-yrs. on joint life. Suggestions?

You're looking at 900-950/mo with a return of premium DB (if you and your spouse die prior to liquidating the 190k, someone else can either take the payments or get a lump sum of the remainder.)

If you want to forgo the death benefit (no beneficiaries/max income) then you're looking closer to 950-980/mo.

An indexed annuity w/ a lifetime guaranteed rider could help preserve some liquidity and get you pretty close to those numbers...you'd be giving up your exclusion ratio (which I don't know if that has much of an impact, it would depend on your basis) in exchange for some potential growth and some additional liquidity.

I can refer you to a couple of good agents if you would like. Hopefully this will give you a good baseline to start your decision making process.

Good luck.