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Annunity type

What does a "Non-qualified" annunity type mean? Is this good or not so good?

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Annunity type

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starstarstar 		Non-Qualified Annuity
by: Robert Eldridge

A Non-Qualified annuity is an annuity the money has been already taxed on.

Money within a checking or savings account would be a good example.

401K, IRA, SEP, and TSP are examples of "Qualified Money" because the money grows tax-deferred.

60% of the money we roll into annuities comes from "NQ" money.

All annuity companies accept Qualified and Non-Qualified money. As long as the annuity fits your needs and objectives, then it is a "good annuity."

Have a wonderful day!

Robert

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