Allstate links annuity to UL product. (New Products and Services).Lincoln Benefit Life Co., a member of Allstate Financial Group, has created a financial tool, GenerationLinc, to help deferred variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. owners transfer more wealth to their beneficiaries without burdening them with a high income-tax bill. Available to those aged 60 to 85, the tool allows prospects to exchange their annuity for a single-premium deferred annuity Single-Premium Deferred Annuity (SPDA) An IRA-like annuity into which an investor makes a lump-sum payment that is invested in either a fixed-return instrument or a variable-return portfolio, which is taxed only when distributions are taken. with a seven- to 15-year payout pay·out n. 1. The act or an instance of paying out. 2. A percentage of corporate earnings that is paid as dividends to shareholders. ; the payments then fund a universal life insurance policy with a guaranteed tax-free death benefit that will always be larger than the value of the original deferred annuity Deferred Annuity A type of annuity contract that delays payments of income, installments or a lump sum until the investor elects to receive them. This type of annuity has two main phases, the savings phase in which you invest money into the account, and the income phase in which . The single premium must be at least $20,000. |
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