Qualified Longevity Annuity Contract (QLAC)

In an era of increasing life spans, there is the strong possibility that you could spend as much time inretirement as you did working. That’s why it’s important to create a strategy that includes lifetime income with an opportunity to reduce taxes. One strategy is to establish a Qualified Longevity Annuity Contract (QLAC)

Fixed annuities are long-term investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 ½ are subject to a 10% IRS penalty tax and surrender charges may apply.