Variable Annuity.

When you buy a variable annuity, it’s your choice if you want to be paid in lump sum or regularly. Any variable annuity would do, you just need to set that with your insurer or financial advisor. You could also talk to them yourself about having that annuity as non-qualified to make them not subject to income tax since qualified annuities are often set up by employers for their employees’ retirement plan.

He is not getting paid by the annuity he wants to buy one. Also most annuities have an inital lump sum that is needed to start the policy. Also you may want to clarify what you mean about non-qualified annuities no being subject to income tax
 

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