"Taxation & Suitability of Annuities for the Professional Advisor" 3rd Revised and Expanded Edition, with Appendices
by John L. Olsen, CLU®, ChFC®
"I know of no book that covers the complex topic of commercial annuity contracts as clearly, concisely, and fully as this one. John has left nothing to chance, quickly defining, explaining, and providing clear examples of every key term of art. More importantly, he doesn't shirk from addressing tough or contentious issues and providing invaluable insight unavailable from a mere reading of the code or regulations".
- Steve Leimberg, Publisher: Leimberg Information Services, Inc. (LISI - www.leimbergservices.com)
"John's book is a "must have" for any serious professional who deals with annuities on a regular basis. This is not a book to take to the beach on the weekend. It should be considered an invaluable reference guide to help answer the difficult questions that inevitably arise around taxation, trusts and annuities"
- Tom Hegna, CLU, ChFC, CASL - President: www.TomHegna.com
I wrote this book in response to many requests from attorneys, accountants, and other advisory professionals for a book that focuses only on two issues: the often bewildering rules of annuity taxation and the ever-vital question of when a particular annuity contract may be "suitable" for a particular consumer's goals and situation.
The tax rules governing annuities are extremely complex and advisors who give advice to clients about an annuity need to be fully aware of those rules, especially when the annuity is owned by or payable to a trust. The cost of not knowing can be far higher than the modest price of this book.
This 3rd edition contains new material on the SECURE Act, the NAIC's new (2020) "Suitability in Annuity Transactions" Model Regulation, and the SEC's "Best Interest" Reg. ("Reg BI" (2019)
SEE "TABLE OF CONTENTS" BELOW
Chapter 1 -Annuity Basics
Chapter 2 - Taxation of Annuities During Lifetime
Chapter 3 - Taxation of Annuities After Death
Chapter 4 - Annuities and Trusts
Chapter 5 - Suitability and Annuities
Chapter 6 - New Rules & Regulations Affecting the Sale of Annuities
- NAIC's new "Suitability in Annuity Transactions" Model Reg. (2020)
- SEC's "Best Interest" Regulation ("Reg BI") of 2019
- The SECURE Act
Chapter 7 - The Annuity Agent as Defendant: Recent Regulatory Decisions
Chapter 8 - The Best Defense is Good Compliance - And Evidence
Appendix A - "Annuities and Suitability" Reflections on the State of the Debate"
Appendix B - NAIC "Insurance Agent (Producer) Disclosure for Annuities REQUIRED
Appendix C - "Consumer Refusal to Provide Information" REQUIRED if applicable
Appendix D - "Consumer Decision to Purchase an Annuity NOT Based on a Recommendation" REQUIRED if applicable
"An annuity in its most simple form is just a stream of payments, with the payments usually made for a set period of time or until the owner of the annuities dies. Trouble is, today's annuities are highly complex contracts with many features and moving parts that most annuity agents don't understand, and even many insurance company underwriters do not fully understand. Their myriad intricacies create all sorts of problems that would drive the sober man to drink. Combine this with a tax code and IRS rulngs that require a cryptologist with years of legal education in tax law to even being to understand, and the area becomes all but impossible for all but the most experienced.
Fortunately, John Olsen is one of the most experienced experts on annuities, and has spent a lifetime deciphering the nuances of annuity products and determining their tax implications. In this book, John simplifies these complexities in a way that the average advisor can understand and use to correctly guide clients. To say that this book is a "must have" for the annuity advisor rather understates the issue -- this book creates a solid foundation for advisors to understand these products and navigate around the confusion. Many of the book's conclusions are surprising and counterintuitive, but right on point. Well worth the money, at any price."
- Jay Adkisson, J.D., Partner: Riser Adkisson, LLP
"Mr. Olsen has captured and addressed the non-qualified annuity taxation and suitability matters beautifully in his book. I have been a financial professional for 25 years and have read every academic book (I am aware) concerning both taxation and suitability of annuities of which none have captured the nuances like this book. In my humble opinion this book should be a NAIC (National Association of Insurance Commissioners) stipulated mandatory read for ALL licensed life insurance agents in the United States. Thank you for this great resource!"
- Jeff Carter
$9.95 - E-book $22.25 in paperback!
This is available either in paperback or as an “e-book”, readable on any laptop, tablet, or smart phone where the Kindle® application is installed (it can be downloaded for free from the Amazon web page for this book.)