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New Inherited/Stretch IRA Business is Now Accepted!

New Inherited and Stretch IRA Business Now Accepted!

 

 

After implementation of the SECURE Act which altered the rules for Stretch IRAs, EquiTrust temporarily suspended accepting Inherited/Stretch IRA business for owner deaths occurring after 1/1/20.

Effective immediately, you may now submit new applications for Inherited/Stretch IRAs! See below for details, sales resources and guidance to support your sales.

Key Points

  • If the IRA owner dies on or after 1/1/20, the new SECURE Act rules apply.
  • Applicable beneficiaries now fall under two categories: Eligible and Ineligible Designated Beneficiaries.
  • Stretch IRA is available only to Eligible Designated Beneficiaries.
  • Inherited IRA is available to Ineligible Designated Beneficiaries – withdrawal or taxation of funds by 12/31 of the 10th year following the IRA owner’s death now applies to Ineligible Designated Beneficiaries. 

 

Learn the Rules

Before engaging in any Inherited or Stretch IRA business, be sure to read “Inherited/Stretch IRA Rules” for detailed information. This piece may be shared with your clients.

Printed supplies (ET-INHRSTRCHIRARULES) available through the Agent Gateway Website, Forms & Supplies tab.
To view, Click here.

 

New Inherited/Stretch IRA Brochure

Let your clients know that you can assist with their Inherited and Stretch IRA needs by providing the new Inherited/Stretch IRA brochure (ET-INHERSTRCHIRA). Printed brochures available. To view, Click here.

 

 

Illustration Software to Support Your Sales

Illustrations are an effective means to inform your valued clients.  EquiTrust illustrations now offer the ability to distinguish between Eligible (Stretch) and Ineligible (10-years) Designated Beneficiaries. Create an illustration at the Sales Tools tab; login is required.

Important Eligibility Information

Applications for new Inherited or Stretch IRA must include a completed Inherited/Stretch IRA Information form (ET-INHIRA).

Available Products

  • Eligible (Stretch IRA) – All deferred annuity products
  • Ineligible (Inherited IRA/10-year rule) – All annuities except MarketPower Bonus Index and Confidence Income Annuity
  • Learn more about EquiTrust Annuities – Click here.

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