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Using Life Insurance to Maximize an Annuity

You may have used annuities as a savings vehicle as part of your financial plan. However, now you may find that you no longer need the money in the annuity and you want to pass the money on to your heirs. But did you know that the gains on your annuity (the portion that exceeds your original investment) will be taxable income to your heirs?1 In addition, the full value of your annuity is includible in your taxable estate, which could result in a diminished inheritance. By using life insurance to help maximize your annuity funds, you can provide your loved ones with the most value for your annuity funds, without the limitations of income or estate taxes.2

Watch the video and learn about annuity maximization using life insurance.

 

 



1. If the original investment was pre-tax, then the full value of the annuity will be taxable income to heirs.

2. Neither Midland National Life Insurance Company nor its agents give legal or tax advice. Please consult with and rely on a qualified legal or tax advisor before entering into or paying additional premiums with respect to such arrangements.