Annuity Buzz

Have you been caught here? You work with a client to complete a distribution form in order to withdraw funds from their annuity contract. You submit the form and request a rush in processing. Soon after, you receive a phone call from The Standard requesting a Substitute IRS Form W-4P and W-9 (Form 5031) prior to disbursement. The result is frustration for both you and your client.

While putting together tax returns, your clients with CDs may soon be receiving a 1099 for the tax on their yearly gains. Why not suggest another solution with a tax-deferred annuity from The Standard? Our Focused Growth Annuity product comes with a choice of year durations to fit your clients' individual needs. Use our marketing idea, Annuities: The Right Financial Tool, to show the advantages of annuities compared to other types of investments.

Rich Lane
Second Vice President of Sales and Marketing, Individual Annuities

For the year as a whole, the U.S. market experienced strong returns. This was despite a particularly destructive hurricane season which, according to Moody's, resulted in combined U.S. property damage of over $200 billion. Another one of the most remarkable things about 2017 was the complete lack of market volatility. But perhaps one of the biggest surprises was the stability of Eurozone politics after years of disarray.

Your clients will receive their 1099R no later than the second week in February. Please note, if a distribution was not a taxable event, such as a qualified transfer between financial institutions, or your client did not take a distribution in 2017, a 1099R will not be generated.

By Chris Conklin, VP Individual Annuities. Reprinted with permission from LifeHealthPro.

It's that time of year again: tax season. It is also a great time of year to talk to your clients about the benefits of annuities. Here are some commonly asked questions you may get this year, along with answers you can use to help clients understand the tax benefits of purchasing an annuity.