Chapter 5: Taxation of Qualified & Non-Qualified Annuities

Table of Contents

Page 86 – Discuss Application of Income Taxation of Qualified & Non-Qualified Annuities in the Following Instances

• Page 87 – Payment of Premiums


• Page 88 – Cash Value Accrual (Section 10168.2 of the CIC)


• Page 89 – Partial Withdrawals


• Page 90 – Loans & Assignments


• Page 91 – IRS Section 1035 Exchanges


• Page 92 – Gift of an Annuity


• Page 93 – Sale of an Annuity by the Owner


• Page 94 – Death of an Annuity Owner (Section 10168.2 of the CIC)


• Page 94 – Death of an Annuitant
  
  • Page 96 – Ordinary Income Tax Adjustment
• Page 97 – Annuity Benefits Distributions
  
  • Page 98 – Discuss the exclusion ratio and its application in distribution calculations.
• Page 100 – Tax Effect on Beneficiary Estate Issues


• Page 101 – Disclaimer (AB 2107, Scott, Chapter 442, Statutes of 2001- Attachment III & Section 789 of the CIC)
  
  • Page 101 – If a life agent offers to sell to a client any life insurance or annuity product, the life agent shall advise the client or the client's agent in writing that the sale or liquidation of this product may have tax consequences.
  
  
  • Page 101 – The life agent shall disclose that the client may wish to consult independent legal counsel or financial advice before buying, selling or liquidating any assets being solicited or offered for sale.
  
  
  • Page 101 – This course is not intended to provide advice with issues surrounding income and estate taxation of annuities. If expert tax assistance is required, life agents shall advise client to consult with other professionals.

Back to Top | Next

Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.