Investing for a 95-Year-Old
A QLAC purchased at 70 or 75 may be set to begin distributions at 85 or later. At 95, if payments have not begun, the mandatory commencement age under current IRS rules is 85. If a QLAC is in force and paying, those distributions supplement Social Security and RMDs, providing income security regardless of how long the person lives. Review the contract terms with the annuity issuer.