Series 6 - Investment Company And Variable Contracts Products Representative Exam
Preview Mode
All of the following statements about nonqualified annuities are true EXCEPT:
They are funded with pre-tax dollars
A
The earnings on the annuity grow tax-deferred
B
Only the earnings are taxed at distribution
C
They are an insurance contract designed to provide retirement income
D
Explanations
Nonqualified annuities are funded with after-tax dollars.