- State Guaranty Association The Georgia Life and Health Insurance Guaranty Association provides limited protection if an insurance company fails. Coverage for annuity benefits is generally $250,000 in present value per contract owner, per insurer. Verify current limits directly with the association. Annuities are not FDIC insured.
- Annuity Tax Treatment Georgia taxes annuity income as ordinary income but offers one of the most generous retirement income exclusions in the country for older residents, covering pension, annuity, and investment income up to a substantial per-person limit at age 65 and older. Confirm current exclusion amounts with a tax professional.
- State Insurance Department The Georgia Office of Commissioner of Insurance and Safety Fire regulates annuities sold in Georgia. You can verify any insurance professional's license through the Commissioner's online license search.
- Free Look Period Georgia generally provides a free look period of at least 10 days for annuity contracts, and an extended 30 days when the annuity replaces an existing contract. Your contract states the exact period that applies to you.
- Best Interest Standard Georgia has adopted the NAIC Best Interest standard for annuity recommendations. Advisors recommending annuities to Georgia residents must act in the consumer's best interest.
Retiring in Georgia
Between the Atlanta metro and popular retirement areas in the north Georgia mountains and along the coast, Georgia's retiree population keeps growing, helped by its large retirement income exclusion. We serve Georgia clients by phone and video.
Learn before you buy
Start with what an annuity actually is, then see how the types differ and which myths to ignore. If someone has already shown you a product, get a free second opinion before you sign.