BMS wrote:
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EXCELLENT ADVICE........
Cal Lester CLU


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--
"Tell me what you think, Captain, I'm all ears" - Spock

This signature file is generated by Pick-a-Tag !
Written by jeroen[at]vanbaarsel.net

This is a repost becuase it appears not to have worked the first time:

Definitely get the prospectus and find out what you have. Or post
what the product name is and someone may be able to tell you. It is
probably an inaccurate assumption that you must annuitize the death
benefit. That is a living benefit - death benefits are paid out in
cash. In reality, your mom probably got lucky and is in a good
position. You need to find out how the death benefit is affected by
withdrawals. If it is dollar for dollar (and if the annuity is 5
years old, it probably is), then you need to make some changes ASAP.
But as the previous poster said, let's not guess

BMS" <mcfared[at]comcast.net> wrote in message news:<yN7lb.604065$cF.270687[at]rwcrnsc53> ...
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Before you panic, get the documents and know what the product is. From the
very little bit you told here it could be a Variable Annuity. In order to
get 690k value she would have to annuitize the contract. The surrender
charges are about 1 or 2 percent now.

Don't guess, get the facts, it could be alright or you could compound the
problem by jumping to conclusions. Find out what the sub accounts are
invested in. Where would the money have been if not here?

Also a key point not brought here is what was the value of the roll over?

Finally where do you intend to move the account? While you are waiting find
the alternatives.


"J.T. Burtchaell" <csuprofessor[at]yahoo.com> wrote in message
news:5fc3a01d.0310202052.38d28345[at]posting.google.com...
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My father died about 5 years ago and I just found out that my mother
took his IRA money and rolled it into something (a variable annuity?)
with a stepped up death benefit. On one anniversary date, the value
was about $690K, but the value of the account has dropped to about
$200K. I don't know the fees, etc. that she's paying (or paid) for
this, but I'm guessing that she would have been better off not getting
into this deal. The 7-year period is almost up when she can get out of
it without additional penalties. My question is this: How anxious
should I be to help her get out of this once she's able to (or
before)? Her view (at least right now) is that if she takes the money
out of this, she's only got $200K before taxes. But when she dies,
we'll get $690K. (If it matters, she's in "random" health. She's 63
and it wouldn't surprise me if she died tomorrow or 20 years from
now.)

I don't completely understand the product so I'm trying to get a
handle on the variables at play (taxes, typical fees, etc.).

Thanks for any help.
JTB