Annuities
Took your advice ( at the Beverly Arts Center) and consolidated 5 small annuities, some from fraternal organizations, into one $150k annuity with GILICO (rating 49 on stan’s codex score). Hubby died last month during the accumulation phase. I don’t want a lump sum (taxes), nor do I want to trust GILICO for lifetime income (I am 73). Is it possible to spread the $150k into five annual payments, then shop for a lifetime income annuity from a stronger insurance company in 2029?
I do not need any money this year. Can I receive the first chunk next year? To defer the first payment, do I just wait to report the death which was on June 26? Thanks a lot.
Terry Says
Whoa — I don’t think that was MY advice. I haven’t been to Beverly in ages! And I have no idea what you did with these annuities.
Go to www.StantheAnnuityMan.com and sign up for a call with Stan Haithcock. He is the only one I trust to make sense out of this!
