Co annuitants on an immediate inherited annuity
Could you please clarify for me whether there can be co annuitants on an owner driven annuity contract which is a fixed single premium annuity that has been inherited. I believe the answer is no, but I am not certain. It seems clear that the single life table used for the calculation might mean that co annuitants would have a combined life expectancy which would be less than the required minimum in this scenario.
Permalink Submitted by Alan - IRA critic on Thu, 2014-05-15 00:04
You are probably right, but the answer must oome from each insurer. There are no IRS Regs for NQ annuities in this respect and state law may also factor in to what an insurer can offer in different states.