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Longevity Insurance for IRAs?
Morningstar Link to more items from this source
Mar. 6, 2012
With longevity insurance, the company is promising to pay a stream of annuity payments beginning at a fixed time (typically age 85) and lasting for life. Thus, these contracts are governed by the defined benefit minimum distribution rules, and that's the problem: The defined benefit rules allow the IRA owner to purchase many types of annuity contracts inside the IRA, provided that the annuity payments start no later than the participant's required beginning date, i.e., April 1 of the year after the year the participant reaches age 70 1/2.

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