Example: Your variable annuity has a mortality and expense risk charge at an annual rate of 1.25% of account value. Your average account value during the year is $20,000, so you will pay $250 in mortality and expense risk charges that year. · Administrative fees – The insurer may deduct charges to cover record-keeping and other administrative expenses. This may be charged as a flat account maintenance fee (perhaps $25 or $30 per year) or as a percentage of your account value (typically in the range of 0.15% per year). Example: Your variable annuity charges administrative fees at an annual rate of 0.15% of account value. Your average account value during the year is $50,000. You will pay $75 in administrative fees. · Underlying Fund Expenses – You will also indirectly pay the fees and expenses imposed by the mutual funds that are the underlying investment options for your variable annuity. · Fees and Charges for Other Features – Special features offered by some variable annuities, such as a stepped-up death benefit, a guaranteed minimum income benefit, or long-term care insurance, often carry additional fees and charges. Other charges, such as initial sales loads, or fees for transferring part of your account from one investment option to another, may also apply. You should ask your financial professional to explain to you all charges that may apply. You can also find a description of the charges in the prospectus for any variable annuity that you are considering. Tax-Free “1035” ExchangesSection 1035 of the U.S. tax code allows you to exchange an existing variable annuity contract for a new annuity contract without paying any tax on the income and investment gains in your current variable annuity account. These tax-free exchanges, known as 1035 exchanges, can be useful if another annuity has features that you prefer, such as a larger death benefit, different annuity payout options, or a wider selection of investment choices. You may, however, be required to pay surrender charges on the old annuity if you are still in the surrender charge period. In addition, a new surrender charge period generally begins when you exchange into the new annuity. This means that, for a significant number of years (as many as 10 years), you typically will have to pay a surrender charge (which can be as high as 9% of your purchase payments) if you withdraw funds from the new annuity. Further, the new annuity may have higher annual fees and charges than the old annuity, which will reduce your returns.
Bonus CreditsSome insurance companies are now offering variable annuity contracts with "bonus credit" features. These contracts promise to add a bonus to your contract value based on a specified percentage (typically ranging from 1% to 5%) of purchase payments.
|
|
USA - Asia - Russia - India - EU - West Indies - China - Indonesia - Latin America - Arabia - Africa
Best Online University - Online Nursing Degrees
Home Home ACBSP About AABFS CFM Chartered Financial Manager Requirements Certifications Board Course Certifications Benefits Online Certification Convert Courses To Certification Recognition Qualifying Degrees Training Providers How To Use CEO Message Register Accreditations IAF CERT EU Accreditation Handbook Mission Contact Us News Certified Data Analyst Wealth Management Sample Test Quiz PSA ERM Article Application Apply Global Advisors instructions AAMBFS Old Online Certification FINTECH CAIFP Certified Artificial Intelligence in Finance Professional ™ CHFM CHARTERED FINANCIAL MANAGER Dubai UAE INFORMA Training 2019 Events In House Training Speakers About Old Chartered Wealth Manager News Sri Lanka & The Maldives Ethics CWM Training Program Magazine of Wall Street CWM Chartered Wealth Manager Cert Brazil UBT AMA Reg. Payments Registration NewMembers IP payment Corporate Discount payments HomeCoPY Paper Award Home George Mentz Colorado Springs CEO GAFM - Global Academy of Finance & Management charteredwealthmanager Ghana AFAPayment AFAPPC GetCertifiedPPC GetCertifiedPPC2 Stock Markets Training Calendar FINRA MFP Financial Planner AFA Chartered Certified Economist Certified Financial Analyst FINRA SEC Chartered Wealth Manager Training Verify Member indonesia malaysia Guides Informa GAFM Guides Jamaica Membership Governmental Recognition Links Financial Planner Program Chartered Economist CCO Higher Institute IP List Be a Training Provider Management Consulting Jobs Project Management Certifications CWM Chartered Wealth Manager Terms Deans Letter AFA Approved Masters Degrees Economics Certification Economics Degrees Management Degrees Finance Degrees Accounting Degrees Exams Renew Certification Continuing Ed Awards Letter Renew 2014 Sample Honor Society Trademarks Careers Government Jobs Complaint pics Mentz George Mentz Lawyer Mentz George Colorado USA Speaker Consultant AFA ® Accredited Financial Analyst Certification ChFM Chartered Financial Manager ® Accredited CTEP ® Trust and Estate Certification CIPM ® Certified International Project Manager CWM ® Chartered Wealth Manager ® AMA ® Management Accountant Certification AMC ® Management Consulting Certification MMC ® Management Consulting Certification Book Chartered Fraud Investigator
Reference to FINRA Certification Guide & Standards
FINRA EDUCATION CWM Chartered Wealth Manager ® Chartered Financial Manager ® AFA Accredited Certified Financial Analyst ® AMA Accredited Certified Management Accountant ® CAM Chartered Asset Manager CTEP Chartered Trust and Estate Planner ® RFS Registered Financial Specialist CMA Chartered Market Analyst FAD Financial Analyst Designate CPM Chartered Portfolio Manager - IACSB
* Chartered Financial Manager FINRA * Certified Risk Analyst FINRA * MFP Master Financial Planner ® - Aspen Commission