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Can a deferred income annuity be purchased as a QLAC?

Also, if you're using qualified assets, a deferred income annuity may be purchased as a Qualified Longevity Annuity Contract (QLAC), ultimately providing you with potential tax benefits. Unique to money used to purchase a QLAC, required minimum distributions (RMDs) can be delayed up to age 85.

What is a deferred annuity?

A deferred annuity is an insurance contract that generates income for retirement. In exchange for one-time or recurring deposits held for at least a year, an annuity company provides incremental repayments of your investment plus some amount of returns.

Is a deferred income annuity right for You?

If you're looking for a future source of guaranteed income that will last the rest of your life, a deferred income annuity may be right for you. A deferred income annuity (DIA) allows you to use a lump sum or multiple purchases to receive a guaranteed 1 "retirement paycheck".

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