SECURE ACT
Since it looks as if the secure act will actually pass in the Senate, how will this effect the annuity and cash value life insurance market place? My understanding is the STRETCH option will no longer be available with this new ruling.
Since it looks as if the secure act will actually pass in the Senate, how will this effect the annuity and cash value life insurance market place? My understanding is the STRETCH option will no longer be available with this new ruling.
Permalink Submitted by Alan - IRA critic on Fri, 2019-11-01 22:20
Right now, the prognosis is less than 50% for passage this year. This was an HR bill and the Senate has it’s own version (RESA) with different stretch restrictions. No telling which combination would pass or what changes might be made in Conference. Depending on what version, if any passes, it might have a minor affect on the annnuity and life business. I don’t see too many IRA owners taking large taxable distributions to purchase life insurance, but who knows?