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Heavy and General Laborers Local 472 and 172 Annuity Fund 700 Raymond Blvd. Newark, NJ 07105 (973) 5895050 Loan Application (Please print or type) NAME: (Last) (First) (Middle) ADDRESS: (No. and Street).

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How to fill out the Local 472 Annuity Loan online

This guide provides clear instructions on how to complete the Local 472 Annuity Loan form online. It is designed to assist users in accurately filling out each section of the form to ensure a smooth application process.

Follow the steps to complete your loan application accurately

  1. Click ‘Get Form’ button to access the Local 472 Annuity Loan application form and open it in your editor.
  2. Begin by providing your full name in the designated fields: last name, first name, and middle name, ensuring each section is completed accurately to avoid processing delays.
  3. Fill in your complete address, including the street number and name, city, state, and zip code, as this information is crucial for identification and communication purposes.
  4. Enter your Social Security number, local number, and member number in the specified fields to confirm your identity and membership.
  5. Indicate your marital status and provide your telephone number, which will be used for any follow-up communication about your loan application.
  6. Select the purpose of the loan by checking the appropriate box (A to I) that describes your situation. Make sure to attach any required documentation as specified for your selected purpose.
  7. Clearly write the loan amount you are applying for in the specified field, keeping in mind the limits stated within the document.
  8. Sign and date the application in the designated member's signature areas. If applicable, your spouse must also sign and date where indicated.
  9. If you are married, ensure to complete the attached spousal consent form; if you are single, fill out the unmarried participant form provided.
  10. After completing the application, review all entries for accuracy and completeness. Save any changes made, and proceed to download, print, or share the completed form as needed.

Complete your Local 472 Annuity Loan application online today to ensure timely processing.

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An annuity loan is a type of amortizing loan. Unlike an installment loan, the principal of an annuity loan is amortized by a series of identical installments (annuities). The combined loan principal and interest charges are divided by the number of amortization payments to be made.

With an annuity loan, you don't have to pay surrender charges. Avoid taxes and early distribution penalties. An additional benefit is that you can avoid taxes and early distribution penalties by taking a loan.

An annuity loan is repaid through fixed monthly payments until paid off. A serial loan is repaid through variable monthly payments until paid off. Please see the detailed down payment plan.

For example, a car loan may be an annuity: In order to get the car, you are given a loan to buy the car. In return you make an initial payment (down payment), and then payments each month of a fixed amount. There is still an interest rate implicitly charged in the loan.

Here's how to take a loan out from your non-qualified deferred annuity: Determine if your annuity allows you to take out a loan. ... Review the loan information. ... Submit the application. ... Receive your approval. ... Sign the approval letter. ... Avoid surrender charges. ... Avoid taxes and early distribution penalties.

When borrowing from an annuity, be prepared to pay an assortment of fees and penalties. The insurance company levies a penalty, called a “surrender charge,” on early withdrawals from an annuity. You may be able to borrow from the annuity without paying a penalty if you've held the contract long enough.

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