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S
shelbireichenau
February 7, 2022
Question

How do I identify a small life insurance policy that my husband cashed out this year? qualified retirement plan, nonqualified annuity or modified endowment contract?

  • February 7, 2022
  • 1 reply
  • 0 views
It's a small life insurance policy his parents set up for him as a child. We have life insurance so he cashed out the plan and received a 1099-R. I'm not sure what "type" of plan it is considered when asked to "identify the plan"

1 reply

ColeenD3
ColeenD3
February 7, 2022

It is a nonqualified plan.

 

Non-qualified plan

Includes life insurance policies, private or purchased commercial annuities, and military retirement plans.

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