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Yes, but not directly.

An annuity is a stream of payments paid to some entity for some limited period of time (there are lifetime annuities which are known as perpetuities).

One has the following two options for unlocking the value of an annuity:

* Sell the annuity - receive the present value of all future payments right now in a single lump-sum - you will NOT have to pay it back, however, you will not receive any more annuity payments

* Get a loan - offer the payments as security on a personal loan - the bank will ask you to redirect the payments of the annuity to their bank and either (1) directly use future payments to pay the loan payments or (2) keep future payments accumulated in a trust to guarantee that the loan gets fully paid.

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Q: Can you take a loan from an annuity?
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Where can a deal on an annuity loan be sought?

There are many places that offer deals on annuities. Some places to get an annuity loan include Minnesota Life, Annuity Advantage, and Midland National.


Annuity loans are what type of loan exactly?

Annuity loans are when an annuity holder borrows money against the value of an annuity contract. It allows one to access funds without having to cash out their annuity immediately.


What are the terms of borrowing against a fixed annuity?

You will need to ask your annuity provider what their terms are to get a loan against the annuity. There may also be some penalties.


can i borrow money on my annuity?

It is possible to borrow money from some but not all types of annuities. If a loan is allowed, you will be limited to borrowing from the funds that you have already contributed to the annuity, limited to not more than one loan per year, and very likely limited not more than $50,000. If you do borrow from your annuity and then let the annuity lapse, you will automatically owe taxes on any investment earnings that you have withdrawn from the annuity.


Is there any way you can pull your annuity early as a carpenter in the bay area without being out of the trade for 2 years?

Instead of pulling out of your annuity get a loan against it.


Can a loan be taken on a life ins policy that is linked to an annuity?

Yes, most life insurance policies that accumulate cash value give you the option to take loans, not to exceed the cash value amount. It does not matter if the life insurance premiums are paid from an annuity.


What is a variable annuity prospectus?

Variable annuity prospectus is a type of loan that stays at a fixed rate depending upon the loaner. It can be a good thing to have and search about if you need help budgeting.


Should you take out a loan from your annuity or get it lump sum and pay the tax now?

This is a choice only you can make. You have to consider your goals. Is this money for future use. If so then a loan would make sense since, in most cases, the contract would grow as if the loan was not taken, making you more money. You can make monthly payments, plus interest back to the annuity thereby rebuilding your funds. By removing the funds immediately you are taking money that is making money to use for something that probably will depreciate in value. By utilizing the loan feature it is like having your own little bank, whereby you don't have to prove yourself for the loan. One thing to remember though is if you do not repay the loan and the annuity lapses or you close it out completely you will have to pay the taxes at that time.


How long should I expect an annuity payout to take if I retired in January of 2010?

You can annuitize with an Immediate Annuity to take income now. Here's some info on that consumerboomer.com/should-you-annuitize-immediate-annuity-income


Can you take some money out of the annuity from citi and then put it back with in 60 days?

Only if the annuity is an IRA or Roth IRA. A non-qualified annuity does not have this rule.


What are the benefits of a variable annuity?

A variable annuity is beneficial in an economy such as ours now. That way, when interest rates rise (however many years that will take), your annuity will also be at a higher rate.


Can I get an advance on my annuities settlement through my bank?

You can get cash for an annuity, but it's usually done through a third party rather than your bank. You can, however, use an annuity as collateral on a secured loan obtained through a bank.