This link should take you close to the death benefit section of the prospectus.
https://vpx.broadridge.com/summarydocum ... 26751c3_28
As I read it, you father can take the death benefit or continue the contract.
Earnings on non-qualified deferred annuities are subject to federal income tax. But since there are no (remaining) earnings on your annuity, no tax. I believe death benefits are taxable. Don't know about state taxes. Could it be a premium tax?
My condolences to you and your father.
Ron
https://vpx.broadridge.com/summarydocum ... 26751c3_28
As I read it, you father can take the death benefit or continue the contract.
Earnings on non-qualified deferred annuities are subject to federal income tax. But since there are no (remaining) earnings on your annuity, no tax. I believe death benefits are taxable. Don't know about state taxes. Could it be a premium tax?
My condolences to you and your father.
Ron
Statistics: Posted by Oicuryy — Thu Dec 07, 2023 10:25 pm — Replies 2 — Views 271