. MetLife variable products offering portfolios of BHFT I and BHFT II are distributed through MetLife Investors Distribution Company (member FINRA). Variable insurance products are distributed by MetLife Investors Distribution Company ("MLIDC") (Member FINRA) or Brighthouse Securities, LLC (Member FINRA) and offered through retail broker-dealers with selling agreements with MLIDC, Brighthouse Securities, LLC and/or their affiliates. Independent rating services such as Morningstar and Lipper Analytical Services publish reports that compare variable annuity fees. If you are too thrifty when it comes to spending your nest egg, you might not be able to maintain your current lifestyle. On the August 4, 2017 distribution date, MetLife, Inc. common shareholders received a distribution of one share of Brighthouse Financial, Inc. common stock for every 11 shares of MetLife, Inc. common stock they held as of 5:00 p.m. New York City time, on the July 19, 2017 record date. All records developed or maintained by Met Tower in connection with this Agreement shall be maintained and held by Met Tower on behalf of, and for purposes of applicable You can put money into a deferred annuity with a single payment or flexible payments, but immediate annuities are usually purchased with a single payment. Marketing Materials; Preparation and Filing. You have the choice of buying a fixed annuity or a variable annuity. No waiver of any of the provisions of this Agreement shall be Your money has the potential to grow, tax-deferred. Many surrender charges start between 7% and 9% in the first year of a deposit, go to 0% within 79 years, and may provide for a free corridor (e.g., 10% of Account Value) where surrender charges do not apply. Metlife Investors Distribution Co - Company Profile and News BrokerCheck is a trusted tool that shows you employment history, certifications, licenses, and any violations for brokers and investment advisors. including, but not limited to, variable annuity contracts and variable life insurance policies, which are funded by and offered through separate accounts (Separate Accounts, or each, a Separate Account) that are registered as Met Tower is a direct wholly-owned subsidiary of MetLife. If the tax-deferred aspect of a deferred annuity is important to you, make sure the expenses do not outweigh the tax benefits. rights of Met Tower under the Agreement extend to the receiver or the Director; (b)all books and records will immediately be made available to the receiver or the Director immediately upon the receivers or the Directors request; Questions Post Question There are no questions yet for this company. Did the number of MetLife, Inc. shares I own change as a result of the distribution? Guaranteed income for two people is known as a joint and survivor option, which guarantees that income payments will continue for the life of the primary owner and a second person. Crypto Project Multichain Shuts Down, Says CEO Arrested in China, Stablecoin Operator Shifts TrueUSD Control to Offshore Owner, FTX Sues to Recover $323 Million Spent in Deal for Swiss Firm. Whats more, your insurer may impose its own early withdrawal penalty, also known as surrender fees, if you cash in all or part of your deferred annuity within a specified period. agents or principals in the performance of the services hereunder. such books and records, Met Tower shall control all records maintained in connection with the Products. What is the track record of the funding options offered in a variable annuity? You may have seen recent news coverage of customers of financial services companies falling victim to social engineering scams. without the prior written consent of the other party to this Agreement. interpreted, construed and enforced in accordance with the laws of the State of Nebraska, without reference to any conflict of laws provisions that would cause the application of laws of any jurisdiction other than those of the State of Nebraska. Immediate annuities can provide dependable financial security: a stream of income payments guaranteed to continue for the rest of your life or for a period you select. An immediate annuity will begin payments to you within 12 months of purchase. US and Europe Chide Hungary Over Anti-LGBTQ Laws Ahead of Pride March, UK Finance Industry Faces Parliament Probe Over Sexism, Misogyny, Europes Fresh COP28 Climate Pledge Opposed Over Emissions Cuts, Benin Taps 350 Million Loan to Support Sustainable Development Goals, NYCs New BudgetForcesTransparency From Police, Other Agencies. Annuities are issued by Metropolitan Life Insurance Company, 200 Park Avenue, New York, NY 10166. The Principal Underwriter acknowledges and agrees that all funds and invested assets Please contact your bank, broker or other nominee for further information about your account. Unlike a non-qualified deferred annuity purchased with after-tax dollars, an IRA or with a qualified plan receives tax deferral under the non-annuity provisions of the Internal Revenue Code. Br. Both are MetLife Companies. TheyreWaitingOn the Sidelines. Look for a range of funds to diversify your retirement savings as your needs change. Some annuities have surrender charges that are longer and higher than that and you should examine all features of the contract carefully. MLIDC shall at all times function as and be Metlife Investors Distribution Company Our majority shareholders are MetLife International Holdings LLC (leading global insurance company) and Punjab National Bank (second largest bank in India based on no. sales, or advertising material, as required, with any state insurance regulatory authorities. I need an investment with the potential to earn tax-deferred earnings for many years. This Agreement shall be binding upon and shall Some variable annuities offer, in addition to a range of funding options, a fixed account option that guarantees both principal and interest, much like a fixed annuity. Product availability and features may vary by state. 27. In the process, we have shown our commitment to safeguarding families, serving communities and strengthening society as a whole. This Agreement constitutes the entire agreement between How is the cost basis of my MetLife shares affected by this distribution, and what is the cost basis of the Brighthouse shares? BrokerCheck - Find a broker, investment or financial advisor By selecting an annuity, you can avoid paying yearly ordinary income tax on the earnings while your money can compound and grow. . If your ordinary income tax rate at retirement is higher than the applicable long-term capital gains rate for certain investments, you would actually pay higher taxes. Met Tower shall promptly notify the Principal Underwriter in the event there is a change in or modification to the qualifications of the Products to be offered or sold in any of the states or jurisdictions. New York Needs Workers. Notwithstanding the foregoing, force majeure will not include an event which a party should reasonably be able to A new payment may have a 7 9 percent fee if you take out the new payment right away, while a 10-year-old payment may have no surrender fee. Withdrawals of taxable amounts are subject to ordinary income tax and if made before age 59, may be subject to a 10% Federal income tax penalty. Captions. If you withdraw income before age 59, a 10% federal income tax penalty typically applies to the taxable portion of the withdrawal, in addition to ordinary income tax. Some of the earnings are included in your income annuity payments (based on an exclusion ratio) and are taxable; meanwhile, tax-deferred earnings can continue to accumulate on the remaining purchase payments and earnings that have not yet been distributed. You want to help maximize your retirement income. When you receive income payments, you will be taxed on the portion of the payments that is earnings. These Frequently Asked Questions & Answers provide only a summary of the terms of the distribution. The dividend will be payable on Sept. 14, 2023, to shareholders of record as of Aug. 8, 2023. MLIDC accepts such Before you buy an annuity, consider the following: Apr. MetLife annuities, like all annuities, are insurance products and not insured by the FDIC, the NCUSIF or any other government agency, nor are they guaranteed by, or the obligation of, the financial institution that sells them. 19. MetLife - SupplierGATEWAY Annuities: Answering your questions about annuities - MetLife How do you want deferred proceeds to be paid out? Underwriter and Met Tower shall submit to all regulatory and administrative bodies having jurisdiction over the present and future operations of each Separate Account, any information, reports, or other material which any such body by reason of this If the company is offering bonus rates (a higher interest rate for a set period of time) make sure the underlying interest rate is financially attractive, considering any additional contract costs or early surrender fees. Distributions of taxable amounts are subject to ordinary income taxes and, if made before age 59, may be subject to a 10% federal income tax penalty. . Yes. The Principal Underwriter While anyone who is properly licensed to sell insurance products (e.g., banks, brokers, agents) can sell annuities, the insurance company issues the annuity contract. There is no tax law restriction on how much money you can contribute. You have many options for receiving your money, each with its own tax ramifications. rendered and the direct expenses incurred in connection therewith. MetLife intends for the Distribution to qualify as a reorganization under section 355 and 368(a)(1)(D) of the Code. are taxed as ordinary income when distributed. The Principal Underwriter shall keep confidential any information obtained pursuant You can opt for income guaranteed for the rest of your life and the life of another person, such as your spouse. Principal Underwriting Agreement with MLIDC - SEC.gov Entire Agreement. inure to the benefit of the parties and their respective successors and permitted assigns; provided, however, that neither this Agreement nor any rights, privileges, duties or obligations of the parties hereunder may be assigned by a party Home Page Investor Relations Show More PNB MetLife India Insurance Co. Ltd. is one of the leading life insurance companies in India. All are MetLife companies. SUPPLEMENT DATED MARCH 6, 2017 . Withdrawals and income payments from annuities are subject to ordinary income taxes. Met Tower, each Separate Account, and the Principal Underwriter shall cause to be maintained and Products; Resources; My Account; Talk to a D&B Advisor 1-800-280-0780. Business Directory . MLIDC is an indirect, wholly-owned materials described above, and will cooperate in resolving and implementing any comments, as applicable. Severability. PDF Authorization to Disclose Information - MetLife D. Service Agreements . Shareholders of MetLife, Inc. who owned less than 11 shares of common stock, or others who would otherwise have received fractional shares, received cash. I want payments for the rest of my life: Straight life option, or, I want payments for life and for the rest of my spouses life: Joint and survivor option, or. Met Tower, the Principal Underwriter and each Separate Account agree to cooperate Dont be swayed by last months top performer. Check company information using the D&B Business Directory at DandB.com. This analysis is not intended for distribution with Retail Investors. The portion that is purchase payments, which represents your initial deposit made with money that had already been taxed, is not taxable. Does a variable annuity offer multiple funding options in case you change your investment strategy a few years down the road? Consult a professional financial advisor for assistance in making this determination. * You may access your account in the following ways: Website: To access your account online, please go to mlr.metlife.com. MetLife, Inc. common stock will continue to be traded on the New York Stock Exchange under the symbol MET. Reimbursement and Compensation. The Securities and Exchange Commissions (SEC) online pamphlet, Variable Annuities: What You Should Know, offers information about all aspects of variable annuities. MLIDC is an indirect, wholly-owned Met Tower is a direct wholly-owned subsidiary of MetLife. Of course, IRAs already receive the benefit of tax deferral, so there is no additional tax benefit to purchasing a deferred annuity. Company profile page for Metlife Investors Distribution Co including stock price, company news, press releases, executives, board members, and contact information METLIFE INVESTORS DISTRIBUTION COMPANY CRD# 6695 SEC# 8-17973 Main Office Location 22 CORPORATE PLAZA DRIVE NEWPORT BEACH, CA 92660 Mailing Address How do the fees and charges of your existing contract compare with the proposed new contract? Bear in mind that income payments may go up or down based upon market fluctuations with a variable immediate annuity. Such direct expenses shall include, but not be limited to, (a)commissions and trail commissions payable under When an annuity is used to fund these vehicles there are contribution limits that apply, and federal tax laws generally require that you begin taking minimum distributions by April 1 of the calendar year following the year in which you reach age 72. Registered shareholders: If you are a registered shareholder (meaning you hold physical MetLife, Inc. stock certificates or you own your shares of MetLife, Inc. common stock directly through an account with MetLife, Inc.s transfer agent, Computershare Inc.), Brighthouse Financial, Inc.s transfer agent credited the whole shares of Brighthouse Financial, Inc. common stock you received in the distribution by way of direct registration in book-entry form under the Direct Registration System (the DRS) to your DRS book-entry account on or shortly after the August 4, 2017 distribution date. Box 505000Louisville, KY 40233-5000Phone: (888) 670-4771Email:web.queries@computershare.com. MetLife, Inc. - Investor Relations Will my shares of MetLife, Inc. common stock continue to trade on the New York Stock Exchange following the distribution? Getting Started in Annuities by Gordon Williamson The payments from variable immediate annuities fluctuate based on the performance of the investment options you choose. The Principal Underwriter shall not use any materials that have not been approved by Met Tower. Variable annuity products are offered by prospectus only, which is available from your registered representative. I have a lump sum of money and I want to begin drawing an income from it. Met Tower shall pay or cause to be paid expenses of any registration or All Metropolitan Life Insurance Company Fixed Annuity product guarantees are subject to the financial strength and claims-paying ability of Metropolitan Life Insurance Company. Lifetime Income with a Guaranteed Period. A.M. Best, Standard & Poors and Moodys all rate the financial strength of insurance company general accounts. The company id for this entity is 0154063. 3. 6. 4. Categories: Insurance Site: metlife.findlocalagent.net Phone: (520) 323-0824 In business since: 1868 Specialties: Also Available by Appointment, Flood Damage, Residential Products: Auto Insurance, Boat Insurance, Commercial Services, Disability Insurance, Financial Services, . unit investment trusts with the Securities and Exchange Commission (SEC) under the Investment Company Act of 1940, as amended (the 1940 Act); WHEREAS, MLIDC is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (the Exchange Act) A spouse can step in as the new owner of the annuity and the tax deferral continues until the taxable amount is withdrawn. Both are MetLife affiliated companies. For example, after receiving an inheritance, you could decide to invest a lump sum of money right away, and receive a specified interest rate beginning now for the next five years. agreement and consent of the undersigned parties, provided such amendment is in writing and duly executed. This Agreement shall terminate automatically: (a)if the 6. Trust beneficiaries: If you are a beneficiary of the MetLife Policyholder Trust established in connection with the demutualization of Metropolitan Life Insurance Company in April 2000, seeBrighthouse Financial Distribution Information for Trust Beneficiaries. 31. The Principal Underwriter agrees that its compensation for services You will receive income for life, guaranteed by the insurance company. I want immediate income from my investment. I want to begin receiving the income at some future date (e.g., at retirement): Deferred annuity. However, the downside is that payments can drop if the market drops. for the Products contain no intentional misstatements or omissions of material fact. Among the reasons to consider an immediate annuity are the following: An immediate annuity is a financial vehicle that can provide guaranteed income for life. Additional information is available at www.metlife.com or by contacting ANNE WILLIAMS at (480) 607-6900. Daniel Lamego | Financial Advisor - Mml Investors Services, LLC | NJ If the funding options you choose for your annuity perform well, they may exceed fixed annuity returns. In general, partial withdrawals from nonqualified annuity contracts are treated as coming first from the earnings in the contract (and, thus, subject to ordinary income tax), and only when all the earnings have been exhausted are the withdrawals treated as a nontaxable return of your after-tax investment in the contract. To the extent necessary to distribute the Products, the Principal Underwriter shall be with such reports as either or both may reasonably request for the purpose of meeting reporting and record keeping requirements under the 1933 Act, the Exchange Act, and the 1940 Act and rules thereunder, as well as the insurance laws of the state In addition, a variable annuity, like most other investments, has fees for the management and operating expenses of the funding options in which your money is invested. In other words, if you transfer money to a different funding option within your variable annuity, you will not have to pay federal income taxes on any earnings you have accumulated at the time of transfer. If the surrender fee is a high (typical fees are around 6 to 7 percent and decline over a period of approximately 57 years), you could find yourself locked into a contract from which it will be costly to escape. Now available: CEO Letter Quarterly Results Q4 2022 METLIFE INVESTORS DISTRIBUTION COMPANY - Bizapedia Website: www.metlife.com Employees (this site):? Your financial representative can provide you information to help you decide if a living benefit is right for you. promotional, sales, and advertising material relating to the Products and any other marketing-related documents for use in the offer and sale of the Products, subject to review and approval by the Principal Underwriter of such material and documents Because you dont know how long youll live, its hard to be sure your resources will last as long as you need them. Intermediaries who sell Products under agreements entered into pursuant to paragraph 5 hereof, in amounts as may be agreed to by Met Tower and specified in such written agreements.
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