If your clients have idle annuities not needed for retirement income, they are missing out on a tax advantage. Let’s say they needed the income for an expected expense like long-term care, they would be subject to taxes on the gain, but with an annuity that qualifies for benefit outlined in the PPA, they could use the full annuity—cost-basis and gain—tax-free for LTC expenses.
This whitepaper shows the specific advantage of an annuity that qualifies for benefit outlined in the PPA with OneAmerica Financial: Advantages of Annuity Care Side-by-Side Comparison Flyer
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