FAQs

Note: These brief questions and answers are intended to initiate discussions with qualified professionals. We do not provide investment, tax or legal advice. Please visit with a licensed representative and/or other advisors to review your personal situation.

Annuities | Life Insurance | Pre-Need Life Insurance


THE FOLLOWING QUESTIONS APPLY TO ANNUITIES

Do your annuities give me the option to select among different investment choices?

Is an annuity considered a “security”?

What is an equity indexed annuity (EIA)?

What kind of account fees will I have to pay?

Is the premium I pay for an annuity tax deductible?

How are annuities taxed?

What is a surrender / withdrawal charge?

What happens at the end of the surrender charge period?

During a surrender charge period, do I have any penalty free access to my money?

I am the Owner and the Annuitant of my non-qualified annuity. What happens to the money I have placed with your company when I die?

My trust is considered Owner of my annuity contract. Does the 10% penalty for withdrawals apply if I am not yet 59 1/2 years old?

Can a charity be considered an Owner and Beneficiary of a Liberty Bankers Life annuity?

May I convert my traditional IRA to a Roth IRA?

When must I take distributions from my IRA?

When must I take distributions from my Roth IRA?

What happens to my IRA when I die?

Is my money safe?

How do I get information on Liberty Bankers’ products and services?

How do I access my account information?

How does an immediate annuity work?

Are there any nursing home or disability riders available on your annuities?

May the owner be different than the annuitant?

What benefit is paid at the death of the owner, if different than the annuitant?

What benefit is paid at the death of the annuitant, if the annuity contract is owned by another individual?

Are joint owners permitted?

If one of the spouses is the annuitant and the annuity contract is owned jointly by husband and wife, what happens if one of the spouses dies? It depends on who dies first.

How should the annuitant and beneficiary designations be structured if the annuity contract is to be jointly owned?

May a trust be named the owner of an annuity?

What happens at the death of the annuitant on an annuity contract that is owned by a trust?

May a retirement plan, such as a 401(k) or defined benefit plan, be owner of an annuity?

What happens at the death of the annuitant on an annuity contract that is owned by a retirement plan?

May a corporation be the owner of an annuity contract?

What happens at the death of the annuitant on an annuity contract that is owned by a corporation?


THE FOLLOWING QUESTIONS APPLY TO LIFE INSURANCE

What is life insurance?

What is cash surrender value?

How do I access my policy information?

How do I report a death claim?

How do I change my beneficiary?

How can I update my address?

How much life insurance do I need?

How much insurance do I need for my final expenses?

What is “critical illness insurance”?

What is “no-loss term”?

What is term insurance?

What is whole life insurance?

Is a life insurance benefit taxable to a beneficiary?



THE FOLLOWING QUESTIONS APPLY TO PRE-NEED LIFE INSURANCE

What are the advantages of Pre-Arrangement?

What if I relocate can I transfer my Pre-Arrangement?

How affordable is Pre-Arrangement?

What if I am not in good health?



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Since 1958