Private Annuity

By |2013-09-23T16:30:47+00:00September 23rd, 2013|

A private annuity is a personal or restricted annuity. The major difference between private annuities and commercial annuities is that the person or entity that assumes the obligation for the private annuity is not in the business of selling annuities. The private annuity is an arrangement where the client transfers property to another in return for the other’s promise to make periodic payments to the client in fixed amounts for the rest of the Client’s life. The typical situation involves an insurance company; but properly established private annuities are fully recognized by the Internal Revenue Service as well.

 

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About the Author:

Bill Broich
Bill Broich is a well-known annuity expert with over 30 years of experience. He has written hundreds of articles on annuities and other financial topics, and has been a featured commentator on TV, Radio and the Internet.

Toll-Free: (360) 701-6209 | GVA, Annuity.com | Email: bbroich@msn.com