Tags
Annuity, Annuity Claim Statement, Beneficiary, Certified Death Certificate, Claims, decedent, Estate as Beneficiary, SEP-IRA, Traditional IRA
While wrapping up work on the traditional IRA, closing the annuity was next on the administration plan. The annuity was kind of mysterious because I never found the policy. Earlier in the administration, while in the interim, I did find distribution statements for the annuity, which described the annuity as a Flexible Premium Deferred Annuity – (SEP-IRA). So, I assumed the decedent – who was self-employed – used the annuity as a retirement plan, which would classify the annuity as a qualified annuity. However, since I had limited knowledge of annuities, a call to the insurance company was necessary.