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GUGGENHEIM LIFE AND ANNUITY COMPANY 401 PENNSYLVANIA PARKWAY, SUITE 300 INDIANAPOLIS, INDIANA 46280 GUGGENHEIMLIFE.COM Single Premium Deferred Annuity Disclosure Form IMPORTANT: Read this form carefully

How to fill out single premium deferred annuity

How to fill out a single premium deferred annuity:

1. Gather all the necessary documents including your identification, financial information, and any required forms from the insurance company offering the annuity.
2. Read and review the annuity contract thoroughly, paying close attention to the terms, conditions, and any fees or charges associated with it.
3. Complete the application form accurately, ensuring all the required fields are filled in correctly.
4. Provide all the necessary personal information such as your name, address, date of birth, and social security number.
5. Include any beneficiary information if applicable, such as their names and relationships to you.
6. Specify the amount of money you want to invest as the single premium payment.
7. Choose the annuity options that best suit your needs, such as the length of the deferral period, payout options, and any riders or additional benefits you may want to include.
8. If needed, consult a financial advisor or insurance professional for guidance and advice during the process.
9. Review the completed application form for any errors or omissions before submitting it.
10. Sign and date the application form, acknowledging that you understand and agree to the terms of the annuity contract.
11. Submit the completed application form and premium payment to the insurance company either electronically or through mail as per their instructions.

Who needs a single premium deferred annuity?

1. Individuals who have a lump sum of money that they do not immediately need or want to invest for the future can benefit from a single premium deferred annuity.
2. Those who seek a long-term retirement savings vehicle to supplement their Social Security and other retirement income sources may find a single premium deferred annuity appealing.
3. Individuals interested in tax-deferred growth potential may choose a single premium deferred annuity as it allows the invested money to grow without immediate tax consequences.
4. People who desire a guaranteed income stream in the future can consider a single premium deferred annuity to ensure a regular payout during retirement.
5. Those who want to leave a legacy for their beneficiaries can utilize a single premium deferred annuity to pass on the accumulated funds upon their death.

For pdfFiller’s FAQs

What is single premium deferred annuity?

A single premium deferred annuity is a financial product that allows an individual to invest a lump sum of money to earn interest on a tax-deferred basis. The money invested grows over a specified period of time, and the annuity owner receives periodic payments in the future.

Who is required to file single premium deferred annuity?

The individual who purchases the single premium deferred annuity is not required to file it. However, the annuity provider or insurance company may be required to report certain information to the Internal Revenue Service (IRS) and the annuity holder.

How to fill out single premium deferred annuity?

Filling out a single premium deferred annuity involves purchasing the annuity from an insurance company. The individual will need to provide personal information such as name, address, and social security number. The specific process may vary depending on the annuity provider.

What is the purpose of single premium deferred annuity?

The purpose of a single premium deferred annuity is to provide individuals with a way to save and invest a lump sum of money for future financial needs such as retirement. It offers tax-deferred growth and the ability to receive periodic payments in the future.

What information must be reported on single premium deferred annuity?

The annuity provider may be required to report certain information to the IRS and the annuity holder. This may include the amount of premiums paid, any withdrawals or distributions made, and the amount of interest earned.

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