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.
Premium gift for you for registering for my newsletter
I am a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money.
Interested in additional information? Register for my FREE bi-monthly newsletter, "Layin' it on the line." It contains information that other people have found beneficial. I will never sell your information.
For registering, I have a Premium Gift for you.
Our 15th edition, “Safe Money Book” a $20 value
77,000 copies in circulation
Learn the basics of a Safe Money approach to investing.
And it is FREE with your "Layin' it on the line" newsletter