IRAs have minimum required distributions starting at age 70-1/2. Do annuities have similar requirements?
If the annuity is part of an IRA, the same requirements apply. However, if the annuity is not part of an IRA, no IRS distribution rules apply. What does load mean? In the context of a financial product, load usually refers to the sales commission. It is deducted from money you pay to purchase or invest in a financial product either (1) up front, (2) over time, (3) as a withdrawal charge if you quit early or as a combination of the three. When you buy the Ameritas Advisor Select No Load Variable Annuity, you avoid such sales commissions and withdrawal charges.
