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In the application for an annuity certificate, what does it mean to be the beneficial owner?

April 26, 2017Annuity application Beneficial Certificate mean owner

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In the application for an annuity certificate, what does it mean to be the beneficial owner?

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As both owner and beneficial owner, you are not acting on behalf of another person to invest his or her funds. In case you are doing so, by law insurance companies and banks are required to ask you who the beneficial owner is.