Integrity Annuity Advisor

03/29/2021

12/22/2020

Are you looking for Growth in the Stock Market with No Downside Risk, Several Investment Options, Tax-deferred Growth, and Income for Life Plus a Bonus Credited to Your Account on Day 1 & Protection from Creditors? Do You Want to Lock In Your Current Stock Gains in a 401k, IRA, Annuity, or Non-Qualified Accounts, Other Mutual Fund Accounts? Tax-Free Transfer to Your Beneficiaries With No Probate & Outside Your Estate Then Call Me Now or Shoot Me a Message and We Can Discuss Your Options This Time of The Year is A Perfect Time to Review Your Investments and Plan Tax Reduction Strategies. Don't Hesitate Hindsight is 20/20 and You Know How That Went. Call 973.983.1878 I Wish You A Verry Happy Healthy Holiday Season and A Merry Christmas. I Hope The New Year Brings You and Your Family and Friends Health and Happiness.
Sincerely, Eric M Schragen ( Integrity Financial Services ) www.integrityfinancials.org

06/24/2020

A traditional 401(k) has the advantage of more options later on, but a Roth may be the smarter choice for big savers.

06/08/2020

1. Possible Exchanges Where the Contract Owner is the Same Before and After the ExchangeLife insurance can be exchanged for life insurance
Life insurance can be exchanged for an annuity. This includes exchanges to either a deferred annuity or a single premium immediate annuity (SPIA)
A deferred annuity can be exchanged for another annuity. This includes exchanges to either another deferred annuity or a SPIA
An annuity CANNOT be exchanged for life insurance.
2. Types of Contracts that Can Be Exchanged with the Same Insured or AnnuitantSingle life to single life
Single life to single annuitant
Survivorship life to survivorship life
Survivorship life (one insured deceased) to single life
Single annuitant to single annuitant following exchanges DO NOT relate to the same insured(s), so will NOT achieve a tax-free transfer:
Single annuitant to joint annuitant
Single annuitant to single annuitant
3. Exchange of Life Insurance Policies with Loans

You must be careful when exchanging policies with loans that are in a gain position. A policy is in a gain position if the total cash value is greater than the adjusted cost basis.If the loan is extinguished (discharged) on the exchange, the lesser of the loan or the gain in the policy will be taxable income to the policy owner. This will generate a Form 1099-R from the carrier.
If the loan is carried over on the exchange to the new carrier, the exchange will be accomplished tax-free. However, the new policy will be issued with an outstanding loan right from the start. Many carriers have loan to value limits that must be met before they will accept a Section 1035 carryover loan.
4. Multiple Contract Exchanges

Multiple policies with the same owner and the same insured can be exchanged for a new policy. And one policy can be exchanged for multiple new policies. The cost basis of the contracts will be carried over to the new carrier and adjusted cumulatively (i.e. 2 for 1; 3 for 1) or proportionally (i.e. 1 for 2; 1 for 3) as the case may be.5. Important Administrative Issues

Finally, be careful with the paperwork to complete a Section 1035 exchange. Carriers want the ownership to match exactly between the Section 1035 exchange form of the new carrier and the actual owner(s) of record with the old carrier. Otherwise, the old carrier may not process the exchange until the “title” ownership matches exactly. This is especially important when existing policies owned by an Irrevocable Life Insurance Trust (ILIT) are being exchanged. Also, if a different policy owner is desired for the new policy, a change of ownership form must be executed. This change of ownership could take place either before or after the exchange depending on the specific facts of each case. Contact INTEGRITY ANNUITY ADVISORS when considering a Section 1035 exchange from one carrier to another carrier. Integrity Annuity Advisors will work with You & Your Current Annuity Company to assure that the transfer of funds is handled in an expedited manner.

06/08/2020

I Strongly Recommend ANYONE With a Variable Annuity Consider Calling The Company and Request They Move Your Money Out of The Subaccounts and Into The Money Market Subaccount IN THE ANNUITY. Give Me a Call 973.983.1878 I Will Explain How to Do a 1035 Exchange Into A Guaranteed Index Annuity With An Optional Guaranteed Income Rider. I Can Also Get You 8% Bonus On Day 1 And Income Growing at 6.75% for 10 Years. Err On The Side Of Caution ⚠ Don't Let Greed Or Fear Guide Your Investment Decisions 973.983.1878 Or Shoot Me a Message

06/01/2020

Brief hopes that U.S.-China trade tensions may subside appear to have been dashed.

05/28/2020

These are The Interest Rates You are " Earning " Keeping Your Money In The Banks & Money Markets. It Will Not Keep Up With Inflation. Call Me @ 973.983.1878 or Message Me & I'll Show You Guaranteed Annuities With " A " Rated Companies That Are Safe & Pay Decent Rates Of Return. Don't Want Risk or to Be In the " Market " I Will Show You CD Replacements With Multi-Year Guaranteed Rates. Short Term or Long Term With Liquidity. You Owe It To Yourself To Take A Look. Stay Well Healthy & Safe.