Note: all sample profiles have these defaults which can be modified in the Edit Information tab accessed via the Summary page:
- annuity is outside the ILA until year 8
- annuity transferred into the ILA is net of taxes due and term premiums paid in years 1-7
- minimum term coverage at issue and further reduced to minimum required in year 8
- ILA annuity pays the term premium starting in year 8
- ILA annuity distributions are wash loans once the cost basis is recovered