Annuities 2020

  • Credits: 9
  • Format: Self-Study eBook
  • Field of Study: Federal Tax law
  • Author/Speaker: Paul J. Winn, CLU, ChFC
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01528-20-S | 6233-CE-0259 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© January 2020 General Understanding of Taxes Self-Study eBook

Annuities examine the annuity concept and explain what an annuity is and how it works. The mechanics of the accumulation and payout phases of an annuity are examined and sample calculations are discussed. An explanation of settlement options and their appropriate uses are covered. The course also discusses annuity taxation. Federal income tax treatment of premature withdrawals, lump-sum distributions, and periodic payments is considered. Annuities discuss the different annuity contracts available and compare them with respect to client suitability, with particular emphasis on variable and fixed annuities. Both product types are discussed in terms of single vs. periodic premium, immediate vs. deferred, qualified vs. non-qualified, and settlement options.

Topics include:
  • Describe a typical annuity buyer and the principal reasons individuals buy annuity contracts
  • List the characteristics of annuities and the benefits of tax deferral
  • Explain how variable annuities work
  • Identify the cash value management tools available to a variable annuity contract owner
  • List the factors to be considered in determining variable annuity suitability
  • Calculate interest to be credited under various fixed annuity contracts
  • Explain the operation of indexed annuities
  • Describe how annuities are taxed
  • Recognize the requirements imposed on the sale of variable annuities under Regulation Best Interest

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s: