Introduced by the Obama administration, a QLAC - annuity can be funded by taking money from a qualified plan 401-K etc. The funds are removed from RMD calculations, there is no death benefit or cash value so the product provides a pure protection play against living a long time. Agents can only show the contractually guaranteed proposal. If one expects to live a long time and is worried about running out of money, the product could be suitable. These products do not pay large commissions or permit other agent incentives.
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